Ukraine is preparing a strategic fuel reserve - details of the new law announced
Kyiv • UNN
Ukraine is preparing a decision on a strategic fuel reserve. The law provides for the creation of minimum stocks of oil and petroleum products, which will be stored in Ukraine and the EU.
The Ukrainian government is preparing a decision to form a strategic fuel reserve. This was reported by UNN with reference to the press service of the Verkhovna Rada of Ukraine.
Details
The Committee on Energy and Housing and Communal Services stated: despite the increase in retail prices, there is currently no fuel shortage in Ukraine. The parliament also reminded that the Verkhovna Rada adopted the Law of Ukraine "On Minimum Stocks of Oil and Petroleum Products" - a systemic solution for forming a strategic fuel reserve.
This law provides for:
- creation of minimum stocks of oil and petroleum products in Ukraine (up to 25% can be stored in EU countries);
- the obligation of importers and producers to form and maintain these reserves;
- use of the reserve exclusively in crisis situations, and not for commercial activities.
The law comes into force in stages. The full formation of reserves requires time to create infrastructure and accumulate resources. That is, the mechanism has already been launched normatively, but the physical replenishment of reserves will take place gradually
At the same time, the strategic reserve mechanism is not yet used for interventions in the market, as its formation stage is ongoing. Accordingly, the current price situation is not related to the use of reserves, the committee added.
Panic or real cost - the fuel situation in Ukraine04.03.26, 15:52 • 10833 views