Equities in South East Europe head into the weekend higher as European Union leaders agreed an embargo on Russian oil imports that will kick in around the turn of the year. Bulgaria and Croatia get oil ban exemptions.
“Member states who have a particular pipeline dependency on Russia can benefit from a temporary exemption and continue to receive crude oil delivered by pipeline, until the Council decides otherwise,” the EU Commission said. The temporary exemption comes as a result of Bulgaria’s “specific geographical exposure,” while Croatia will be able to receive imports of Russian vacuum gas oil, which it needs to operate its refinery, until the end of 2023.
In other news, Zagreb Stock Exchange boosts its stake in Macedonian Stock Exchange to 9.92%, the Croatian bourse announced on Friday.
Investors also await the announcement of the interest rate decision by the European Central Bank (ECB) next week.
1. ATHENS – ATHEX 0.74%
2. BELGRADE – BELEX15 0.28%
3. BUCHAREST – BET -0.95%
4. ISTANBUL – BIST 100 0.25%
5. LJUBJLANA – SBITOP 0.02%
6. NICOSIA – CSE GI 1.04%
7. PODGORICA – MNSE 10 0.46%
8. SARAJEVO – SASX10 0.32%
9. SKOPJE – MBI 10 -0.05%
10. SOFIA – SOFIX -0.47%
11. ZAGREB – CROBEX 0.19%
