Global oil market shocks prompt Serbia to prolong export ban

The Serbian government has extended its ban on oil and fuel exports until April 2, citing disruptions in global markets caused by the Middle East conflict.

As part of domestic market support measures, fuel excise taxes have been reduced by 20%, Caliber.Az reports via foreign media.

“In addition, we have decided to release 40,000 tons of diesel from reserves as an extra measure to protect the market, which will be implemented in the coming days,” Energy and Mining Minister Dubravka Đedović Handanović announced.

Earlier, President Aleksandar Vučić discussed the energy market situation and Serbia’s resource reserves with relevant ministries and agencies.

By Jeyhun Aghazada