Serbian opposition election win raises questions over Russian gas ties

Aleksandar Vucic lost Serbia's presidential election on Sunday to a student-backed protest movement, ending his time as prime minister or president since 2014. The defeat prompted nationwide celebrations across Serbia on Monday.

Moscow viewed Serbia as a crucial European ally and a bulwark against European Union efforts to contain Russia over the war in Ukraine. Vucic had maintained close ties with President Vladimir Putin and developed close economic, political and military links with Moscow.

“For our part, we intend to continue to do everything we can to foster the development of our relations with Belgrade. But, as you know, it takes two to tango.”

Serbia buys large quantities of gas from Russian energy giant Gazprom and has not signed up to EU-backed sanctions on Russia over Ukraine. Hungary receives Russian natural gas via Serbia through the Turkish Stream pipeline, with 3.5 billion cubic meters delivered annually since October 2021.

Serbia has stored 500 million cubic meters of natural gas in Hungary each year since transit through Serbia began. The arrangement benefits both countries but represents significant exposure for Serbia.

The Serbian Student Party's 11-point platform aims to halt lithium mining plans, boost renewable electricity generation and move away from fossil fuels. The party supports closer EU ties but would not impose economic sanctions on Russia and regards pragmatic cooperation with Moscow as a national interest.

EU member states will be unable to purchase Russian gas starting in October 2027 due to sanctions, though the ban does not apply to Serbia because it is not an EU member. The Kremlin said it took note of the election result and hopes new political forces will understand that cooperation with Russia serves Serbia's interests.