To protect the domestic market from shortages and price spikes, the government of the Republic of Serbia announced at an emergency session this morning a ban on the export of oil and all petroleum products for motor fuel, Serbian media reported.
The decision is in effect until March 19.
“The ban applies to the export of diesel, gasoline, and crude oil via all types of transport until March 19, after which we will make further decisions. The essence of this ban is to protect the domestic market from shortages and price surges due to global disruptions in the world market,” said Dubravka Đedović Handanović, Minister of mining and energy.
The minister also reminded us that Serbia is a country where citizens pay less for petroleum products than their actual market price and that the state is doing everything to protect both citizens and the economy.
Due to the conflict in the Middle East, Brent crude oil has surpassed $110 per barrel on European exchanges and $120 per barrel on Asian markets. An urgent meeting of the G7 and the International Energy Agency is scheduled for today.
