Reps. Joe Wilson (R-SC) and Keith Self (R-TX) sent a letter to Treasury Secretary Scott Bessent on Friday, Sept. 25, 2026, urging the Trump administration to end sanctions relief for a Serbian oil refinery. The lawmakers requested that the Treasury Department stop extending temporary licenses for the Oil Industry of Serbia (NIS), which is majority-owned by Russian energy companies Gazprom and Gazprom Neft. NIS was sanctioned by the U.S. in 2025 following the 2022 invasion of Ukraine but has since operated under a series of waivers.
The current sanctions waiver for NIS is scheduled to expire on September 30. The company applied for a new waiver recently to continue its operations. NIS provides approximately 80% of Serbia's energy needs. While Hungarian energy firm MOL reached a preliminary agreement in January 2026 to acquire the 56.15% Russian stake in NIS, Wilson and Self noted in their letter that the transaction has not been finalized and negotiations remain ongoing.
The lawmakers argued that continued waivers allow Russian interests to maintain a foothold in the Serbian energy sector and may enable NIS to prolong sale negotiations. They also highlighted that Serbia has not joined other European nations in imposing sanctions on Moscow. This request follows other instances of Republican lawmakers questioning administration foreign policy, including the invitation of Russian President Vladimir Putin to a Miami summit and the handling of the war with Iran.
The decision by the Treasury Department affects the energy security of Serbia, which relies on NIS for 80% of its fuel and energy requirements. If the waiver is not renewed by the September 30 deadline, the company’s ability to process and distribute fuel could be restricted by U.S. sanctions. The situation involves the enforcement of sanctions against Russian state-controlled entities like Gazprom Neft and a 56.15% majority stake in Serbia's primary energy provider. If the U.S. Treasury denies the waiver, it could force a faster divestment of Russian assets.
If the Treasury Department follows the lawmakers' recommendation, NIS would lose its authorization to engage in certain transactions involving the U.S. financial system or goods. This could affect European energy markets, including for the Hungarian firm MOL, which is seeking to finalize its purchase of the Russian stake. The Treasury Department has not yet announced whether it will grant the extension.