Washington has granted a new 30-day reprieve from the sanctions regime for the Serbian oil company Naftna Industrija Srbije (NIS), in which the majority stake is held by Russian companies Gazprom Neft and Gazprom, announced Serbian Energy Minister Dubravka Djedovic Handanovic, AFP reports.

This is the sixth reprieve granted to NIS by the US Treasury since the imposition of sanctions targeting the Russian oil sector by the administration of Democratic President Joe Biden in January, according to Agerpres.

Serbian Energy Minister Dubravka Djedovic Handanovic stressed that Serbia has ‘managed to maintain its energy stability’ thanks to these postponements. ‘Despite difficult conditions that we cannot influence, the refinery has enough crude oil to continue operating. “We are grateful to the US administration for its understanding,” the energy minister wrote in a press release.

The new postponement is valid until September 26.

The main NIS refinery, located in Pancevo, east of the capital Belgrade, has an annual capacity of 4.8 million tons and covers most of the neighboring country’s needs, and the sanctions could jeopardize its crude supply.

NIS is 44.85% owned by Russian oil company Gazprom Neft, to which is added an 11.3% stake owned by Russian giant Gazprom, Gazprom Neft’s parent company. The Serbian state holds a minority stake of just under 30% of Naftna Industrija Srbije, with the rest of the shares belonging to minority shareholders.