The system of operation of state physical reserves in the years 1990–2024

The article contains the basic principles of operation of state physical reserves. The motive for taking up this topic was a synthetic presentation of this system, explaining its adaptation to the conditions of a market economy (especially in the years 1990–1995). During this period, extensive research was carried out and the experience of other European Union member states was used. The results of research were used to prepare the Act on State Reserves and Mandatory Fuel Stocks, which entered into force in 1996 and remained in force until 2021. Many examples of the active use of reserves in solving various economic problems were presented. The article also reflects the process of adapting the system of operating reserves and mandatory stocks to the standards in force in the European Union. The following fragments of the text contain the characteristics of the functioning of the reserves in the second decade of the 21st century. The text ends with a synthetic description of the functioning of the Government Agency of Strategic Reserves. Its operations have generated millions of losses in recent years. The positive experiences of the Material Reserves Agency were negated and the historical continuity of the rational operation of the reserves was interrupted. The text contains several examples of this.  

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