Serbia to Finalize Three-Year Russian Gas Import Agreement Amid Western Sanctions Pressure

Serbia is preparing to ink a three-year natural gas import agreement with Russia next month, ensuring an annual delivery of 2.5 billion cubic meters, according to Dusan Bajatovic, the head of the state-run gas company Srbijagas, in an interview with the public broadcaster RTS on Tuesday.

Bajatovic highlighted that Serbia currently obtains 2.5 million cubic meters of natural gas daily from Azerbaijan, supplemented by an additional 9.5 million cubic meters each day imported from Russia. The country’s primary gas storage facility has a capacity of 780 million cubic meters, with a supplementary option to secure another 200 million cubic meters from a Hungarian storage site if necessary.

Despite ongoing tensions caused by Russia’s invasion of Ukraine and consistent calls from Western nations to enforce EU sanctions, Serbia remains one of the few European countries continuing to purchase Russian gas. The government has yet to impose sanctions on Russia, even as the country seeks European Union membership.

Further complicating the situation, Serbia’s dominant oil company NIS, which is majority-owned by Russia’s Gazprom Neft and Gazprom, is actively pursuing a seventh extension to delay the implementation of U.S. sanctions that could disrupt its crude oil imports.

In a related development, Serbian President Aleksandar Vucic is scheduled to meet with U.S. Secretary of State Marco Rubio later on Tuesday. The discussion is expected to cover issues related to tariffs and sanctions affecting NIS, alongside broader bilateral concerns.