Serbia Politics Explained, Who Holds Power in 2026

Serbia's government is undergoing a transition. The Student List, led by cardiologist Ilija Srdanovic, has secured a parliamentary majority, while Aleksandar Vučić's Serbian Progressive Party (SNS) faces decline after 14 years in power. This report is part of The Rio Times' series on European politics. The EU, Russia, and US sanctions all hinge on Serbia's political shift.

Serbia operates under a parliamentary system with 250 seats in the National Assembly. A party needs 126 seats to form a majority. The prime minister leads daily policy, whereas the president, elected directly for five years, serves as the head of state. The Student List secured about 53.4% of the vote, while the SNS garnered around 39.7%.

Turnout was around 68.8%, notably higher than the 2023 elections. The final results are pending confirmation by the Republic Electoral Commission (RIK), which will then formally elect the new Assembly. Vučić resigned as president in September to run for prime minister. A presidential election must occur within three months of his resignation, likely by late December.

Meanwhile, the Student List remains without a named prime minister. Serbia is a candidate for EU membership but not for NATO, relying heavily on Russian energy, particularly through its state oil company, NIS. The US Treasury sanctioned NIS in October 2025, complicating Serbia's energy landscape. Kalshi, a US prediction market, currently prices a Student-backed president at 69% and an SNS-backed candidate at 1%.