On December 31, 2025, local time, the U.S. Department of the Treasury’s Office of Foreign Assets Control extended the operating license of the Serbian Oil Company until January 23, 2026. Serbian Minister of Mining and Energy Handanović stated that the license extension means that the Pančevo Refinery—the country’s only active refinery operated by Petrol Serbia—will be able to resume operations after being shut down for several dozen days.