economy
March 31, 2026
Russians Don't Trust Vučić: Another Three-Month Extension of the Gas Contract
Following a phone conversation with the President of the Russian Federation Vladimir Putin, the President of Serbia Aleksandar Vučić announced that we have received a three-month extension of the gas contract under very favorable conditions, and "thanked him for it."
TL;DR
- Serbia's gas contract with Russia has been extended for another three months on favorable terms.
- Analysts interpret the recurring short-term extensions as a sign of Russia's distrust in Serbian leadership.
- Potential reasons for Russia's stance include preventing arms exports to Ukraine, avoiding sanctions against Russia, and the fate of NIS.
- Alternative gas supplies from Azerbaijan are not viable in the short term due to pipeline and production capacity issues.
- Serbia remains over 80% dependent on Russian gas, with market prices significantly higher than the current negotiated rate.
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