Government of Serbia bans export of oil and all oil derivatives

Photo collage: Shutterstock, Nikola Tomic

During Monday's extraordinary session, the Government of Serbia decided to ban the export of oil and all oil derivatives used to power engines.

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"The ban applies to the export of diesel, gasoline and crude oil by all modes of transport, and is valid until March 19, after which we will make further decisions," Minister of Mining and Energy Dubravka Djedovic Handanovic said, according to a statement issued by her ministry, adding:

"The point of this ban is to protect the domestic market from shortages and price surges that may occur as a result of global disruptions."

(Telegraf Biznis)