Serbian President Aleksandar Vucic hopes for an extension of the gas agreement with Russia after a phone call with Vladimir Putin

Serbian President Aleksandar Vucic said on Saturday that he hopes the agreement on natural gas supplies from Russia will be extended beyond September 30, following a conversation with Russian President Vladimir Putin. Belgrade is seeking to secure a longer-term contract after the previous agreement, which was valid for three years, expired in the summer of 2025.

Vucic said Serbia is expected to continue benefiting from a price of 318 euros per 1,000 cubic meters, considerably below the current market level of approximately 868 euros. Serbia is heavily dependent on Russian gas and has so far relied on successive short-term extensions.

During the discussion, the two leaders also addressed the situation of Serbian oil company NIS, majority-controlled by Russia and targeted by U.S. sanctions. The latest waiver also expires on September 30, while Washington is calling for the completion of the sale of Russia’s 56% stake to Hungarian company MOL.

Although it aspires to join the European Union, Serbia maintains close relations with Moscow. The conversation with Putin was among Vucic’s last diplomatic contacts before his resignation, announced for September 27, in the context of his candidacy for the position of prime minister.