Press Release: Security of supply: Commission is referring Cyprus to the Court for failing to transpose the EU rules on minimum oil reserves

The European Commission on 20 February 2014 decided to refer Cyprus to the Court of Justice of the EU for failing to transpose the Oil Stocks Directive, which requires Member States to maintain minimum stocks of crude oil and petroleum products to ensure security of oil supply in case of possible disruptions. The Directive had to be transposed by the Member States by 31 December 2012.