Montenegro currently does not have a formal system of commodity reserves, which are essential for safeguarding the economy against disruptions in the supply of basic goods. While the country has begun to build emergency oil stockpiles, these reserves can only sustain fuel supply for approximately six weeks. The issue has garnered attention following protests by transport operators that temporarily halted cross-border freight movement, highlighting the need for a strategic buffer for essential goods.
The last time Montenegro maintained a system of commodity reserves was in 2003, and despite multiple commitments from successive governments, these stockpiles have not been re-established. The absence of such reserves poses a risk to the economy and population in the event of significant supply chain disruptions caused by regional conflicts, natural disasters, or other shocks. Miro Blečić, the former director of the reserves authority, emphasized that creating these reserves should be prioritized due to Montenegro’s reliance on imports and its vulnerability to regional instability.
In contrast to its lack of commodity stocks, Montenegro has initiated the accumulation of oil and fuel reserves as part of its legal obligations concerning energy security and its European Union accession process. According to the Ministry of Energy, the country currently holds around 42,000 tonnes of petroleum products, which is sufficient to meet approximately a month and a half of normal consumption if supply chains are interrupted. This initial stockpile has been partly funded by EU assistance and through levies collected from fuel sales, marking a significant step toward fulfilling mandatory oil reserve requirements set forth in Montenegro’s energy legislation.
Montenegro’s updated legal framework aligns with EU Directive standards, mandating the accumulation of oil stocks sufficient to cover three months of average consumption during supply interruptions. This target is tied to the country’s broader EU accession obligations. Plans are underway to procure additional diesel supplies and refurbish storage facilities at the port of Bar and other locations; however, limited storage capacity remains a challenge.
The continued absence of a formal commodity reserve regime means that Montenegro relies on real-time imports and market dynamics to satisfy domestic needs. Policymakers and industry experts have reiterated the importance of establishing a strategic stockpile system for staple goods, including essential food items and industrial inputs, to enhance resilience against future crises.
