Ban on Export of all Types of Oil Lifted

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The Serbian government decided to lift the ban on the export of all types of oil after a complete review of the state of stocks, as well as record areas under sunflower planting.

The competent institutions will continue to monitor the situation on the market and take appropriate measures accordingly. The priority will certainly be to satisfy all the needs of the population in the first place. In the previous period, the government lifted bans on the export of all types of grain that were subject to limited export measures.

The Decision on the temporary reduction of excise duties on certain petroleum products by 10 percent was also adopted. The government made this decision taking into account the current situation with the price of crude oil on the world market, which negatively affects macroeconomic stability in the country, with the aim of regularly supplying the market with petroleum products, preserving the living standards of citizens, as well as preserving economic stability.

The government also adopted an amended decision on the temporary ban on the export of Euro diesel EN 590, extending the ban for another seven days.

Adopting this measure will prevent possible damage to the economy and citizens, considering that the energy crisis on the world market continues to cause a threat of a critical shortage of this commodity essential for the citizens of the Republic of Serbia.

Source: The Government of the Republic of Serbia