In order to contribute to joint European efforts to stabilize the energy market, the Government of the Republic of Croatia has decided to release 35,000 tons of diesel fuel from mandatory oil and petroleum product reserves onto the market.
According to Croatia’s Minister of Economy, Ante Šušnjar, this decision does not constitute an emergency measure nor is it a result of supply disruptions; rather, it is part of a coordinated action reflecting solidarity with countries more heavily affected by the current challenges on the global energy market.
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The decision was made following a meeting of the International Energy Agency on March 10, where a coordinated release of 400 million barrels of crude oil equivalents from strategic reserves was agreed upon to mitigate disruptions caused by transit issues through the Hormuz Strait and the decline in production in the Middle East.
Although not a member of the Agency, Croatia participates in joint European activities. The country will release 35,000 tons of diesel onto the market, representing about 4.7 percent of its mandatory reserves, with the government announcing that these quantities will be replenished in a timely manner.
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