Published: June 23, 2026 at 08:06 AM
Updated: June 23, 2026 at 08:06 AM
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OFAC extends NIS and MOL licenses to July 1 as 021 carries Sachs criticism
021 reports that the US Treasury's OFAC extended NIS's operating license and MOL's license for talks on buying the Russian stake until July 1; the previous licenses were valid until June 16. In the same article, economist Jeffrey Sachs tells RTS that US sanctions against NIS are illegal and unilateral, arguing that the US should not dictate Serbia's cooperation terms with Russia.
This card belongs to the issue for June 23, 2026.
Open issueThis card belongs to the long-running story NIS and sanctions
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021
Coverage: Novi Sad / City services, Transport, Urbanism, Environment, Civic initiatives
Jeffrey Sachs: NIS sanctions are illegal, the US cannot tell Serbia whom to work with
(Džefri Saks: Sankcije NIS-u nezakonite, SAD ne mogu da kažu Srbiji s kim će sarađivati, a s kim ne)
021 carries an RTS interview with Columbia University economist Jeffrey Sachs: he calls US sanctions on NIS over majority Russian ownership illegal, unilateral, and counterproductive. Sachs says lawful sanctions require UN Security Council agreement, while the US, in his view, uses the dollar's role to pressure banks and other countries' economic activity. At the end of the article, 021 adds the key operational fact: OFAC extended MOL's license for negotiations on buying the Russian stake in NIS until July 1 and extended NIS's operating license to July 1 as well, allowing the company to continue operations and oil refining after the previous June 16 deadline.
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