Serbia anticipates renewal of Russian gas contract after Vucic talks with Putin

In a video posted to Instagram, Aleksandar Vucic said his recent discussion with Russian President Vladimir Putin left him confident that Serbia’s gas supply agreement with Russia will be renewed beyond the September 30 expiry. The deal, which secures gas at about €318 per 1,000 cubic metres—far below the €868 market price—has been extended on a short-term basis since the original three-year contract ended in 2025. Vucic also raised the matter of the sanctioned Serbian oil company NIS, noting that a solution is being sought after the company applied for a U.S. Treasury licence.

Russian Gazprom Neft holds 44.85% of NIS, Gazprom 11.3%, while the Serbian state owns 29.9%; Hungary’s MOL is negotiating to acquire the Russian stakes. These energy negotiations occur as Serbia maintains close links with Moscow while pursuing European Union membership and has not joined Western sanctions on Russia.