Economy and Sustainable Development Minister Tomislav Coric said on Friday evening that the prices of gas and basic fuels in Croatia would not rise despite the escalation in Ukraine and that he didn't expect problems with energy supply.

It is realistic that the prices of fuel on the market might rise given the escalation of the crisis, that is, Russia’s aggression against Ukraine, which shows that the government’s decision to freeze the prices of basic Eurodiesel and Eurosuper fuels was a good move and that by doing so we ensured lower prices for citizens, Coric told RTL commercial broadcaster.

He said energy suppliers could adjust the prices of premium fuels and those with additives, but the basic fuels would stay at the existing prices.

If there are problems with supply, the government can activate supplies which Croatia has for a few months, he added.

He said that due to the situation with the Nord Stream pipeline and the escalation of the conflict, the price of gas rose by 30% yesterday, but the price for households would remain stable until 1 April.

According to the economy minister, the energy price rise will probably have an effect on inflation, but if it becomes more permanent, the government will consider how to additionally ease the situation for citizens and businesses.

If there is a significant escalation in the energy prices in the coming weeks, and that leads to an increase in the prices of all products and services whose production is affected by energy costs, we will consider further responses, he said, adding that the supply of energy, gas, oil and electricity will not be in question.

The sanctions against Russia will not have a very significant effect on the Croatian economy because the Russian Federation is not a very significant economic partner to Croatia, and as for the financial sector, 99.99% of deposits are protected, Coric said.