Serbia introduces free oil imports from 2011

29th December 2010, Comments 0 comments

The Serbian government decided on Wednesday to allow free import of oil and oil products and liberalise their prices from January 2011, Beta news agency reported.

"This historic decision leads us towards a free market and free formation of prices which will mean a better quality of oil and oil derivatives for lower prices," Beta quoted Serbian Energy Minister Petar Skundric as saying.

The decision will come into force on January 1, Skundric said.

The move effectively revokes the monopoly of Gazprom-owned oil NIS company on imports of oil.

Gazprom bought a 51-percent stake in NIS for 400 million euros (527 million dollars) in December 2008, as a part of a wide-ranging accord between Russia and Serbia.

© 2010 AFP

0 Comments To This Article