Serbia extends ban on fuel exports to April, releases diesel from reserves

Nis ad Novi Sad

19/03/2026 10:45

*    New suspension effective until April 2     

        *    Government to release 40,000 tonnes of diesel to
domestic market     

        *    Serbia has capped fuel prices since 2022     

  
       BELGRADE, March 19 (Reuters) - Serbia has extended a ban
on crude oil and fuel product exports to safeguard its market
from shortages and price spikes stemming from the U.S.-Israeli
war on Iran, the energy minister said on Thursday.
    The suspension, effective until April 2, applies to the
export of diesel, gasoline and crude oil by all modes of
transport, Energy Minister Dubravka Djedovic Handanovic said in
a statement. 
    "The aim of these measures... is to protect the domestic
market from shortages of oil derivatives and price jumps," she
said. 
    The previous suspension expires on Thursday.
    Djedovic Handanovic said the government has decided to
release 40,000 tonnes of diesel fuel from its reserves to the
local market as an additional protective measure. Last week,
Serbia also cut excise duties on fuel by 20% to prevent price
hikes.
    It has maintained a price cap on fuel since February 2022 by
controlling the maximum weekly retail prices for Euro diesel and
Euro Premium BMB 95 gasoline.
    Serbia's fuel exports in 2024, mainly to neighbouring
countries, accounted for around 3.6% of its exports, or $1.26
billion. 
    They sharply fell in 2025 due to U.S. sanctions against the
country's only oil refiner, Russian-owned NIS  NIIS.BEL .

 (Reporting by Aleksandar Vasovic; Editing by Pooja Desai)
 ((aleksandar.vasovic@thomsonreuters.com; +381113044904;))