The Serbian government, at an emergency session, issued a decision on a temporary ban on the export of oil and petroleum products - diesel, petrol and crude oil. The ban applies to all modes of transport and lasts until 19 March, with the possibility of extension.

Energy Minister Dubravka Djedovic Handanovic explained the decision: the purpose of the ban is to protect the domestic market from shortages and price spikes caused by global market disruptions.

The decision was made in the context of a record rise in global oil prices: Brent crude exceeded $110 on European exchanges and reached $120 on Asian markets, due to Middle East escalation and the closure of the Strait of Hormuz.

Existing fuel prices in Serbia are lower than on the international market, which encouraged speculative purchases for resale. The ban is intended to prevent a fuel drain and potential domestic shortages.

Emergency consultations among G7 countries and the International Energy Agency are seeking a coordinated international response to the crisis. The Western Balkans region is particularly vulnerable due to import dependency and limited reserves.