Serbia Tightens Crude Oil Export Controls Amid Crisis

Serbia has prolonged its ban on crude oil and fuel exports in response to the U.S.-Israeli conflict with Iran, aiming to prevent local shortages and price surges. The government is releasing diesel reserves and has reduced fuel excise duties, while maintaining a fuel price cap since early 2022.

In a strategic move, Serbia has extended its ban on exporting crude oil and fuel products to mitigate potential shortages and price increases attributed to the ongoing U.S.-Israeli war on Iran, according to Energy Minister Dubravka Djedovic Handanovic.

The export suspension is set to last until April 2 and encompasses diesel, gasoline, and crude oil across all transportation modes. This decision aims to shield the domestic market from disturbances in oil derivative supplies and volatile price shifts, said Djedovic Handanovic.

To further stabilize the market, the government will release 40,000 tonnes of diesel from its reserves and has slashed fuel excise duties by 20%. Since February 2022, Serbia has enforced a fuel price cap. In 2024, fuel exports contributed 3.6% to Serbia's export economy but declined notably in 2025 due to U.S. sanctions on Russian-owned NIS.

(With inputs from agencies.)