Serbia's Strategic Energy Move Amid Global Turmoil
Serbia extends its crude oil and fuel export ban to ensure domestic supply amidst the Iran war-induced global energy disruption. Energy Minister Dubravka Djedovic Handanovic confirmed the ban's extension until the end of June. To mitigate price hikes, Serbia releases extra diesel reserves and cuts fuel excise duties by 25%.
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Amid the global energy disruption stemming from the war in Iran, Serbia has announced an extension to its ban on crude oil and fuel product exports. Energy Minister Dubravka Djedovic Handanovic confirmed this move will remain effective until the end of June to secure domestic supply.
In addition, the Serbian government will release an extra 30,000 metric tons from its diesel reserves to the local market. This measure, alongside a 25% cut in fuel excise duties, aims to prevent further price increases.
These strategic steps highlight Serbia's commitment to stabilizing the local energy market in the face of escalating global uncertainties and surging prices.
(With inputs from agencies.)
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