(Corrects paragraph 15 to say top student leaders had not said whether a future government would halt weapons exports)
BELGRADE, Oct 26 (Reuters) - Serbia's student-led protest movement won a historic victory in Sunday's parliamentary election, ending the long rule of Aleksandar Vucic and sparking mass celebrations. But their yet-to-be named leaders face a long list of issues.
Here are a few of them:
KOSOVO
The Student List believes that Kosovo, which declared independence from Belgrade in 2008, remains
an integral part of Serbia. During their campaign, the students' candidates said that Kosovo is a temporarily occupied territory which could be reintegrated into Serbia through peaceful means, diplomacy and dialogue.
Their focus is preventing the exodus of the Serbian population in the north of Kosovo, and strengthening institutions funded by Serbia and operating under the Serbian legal system, such as healthcare and education. They want Kosovo's Serb communities to operate autonomously, rejecting previous agreements with the ethnic Albanian-led government in Pristina, such as those on energy, vehicle licence plates and the use of the dinar currency.
FRAYED EU RELATIONS
With Serbia's European Union accession talks largely stalled by a lack of necessary reforms, the Student List campaign deliberately avoided such polarising foreign policy issues.
Prominent candidates, including former central bank governor Dejan Soskic and cardiologist Ilija Srdanovic, have said the government must first focus on domestic reforms and close all EU negotiating clusters before asking the public to cast a definitive ballot on membership of the bloc.
The Student List position on Kosovo is also at odds with membership of the EU, which requires Belgrade to normalise relations with Pristina.
European Commission President Ursula von der Leyen said the bloc stood ready to support reforms including on the rule of law and media freedom, and to work together to advance Serbia’s future in the EU.
COMPLEX RUSSIAN RELATIONSHIP AND US SANCTIONS AGAINST NIS OIL FIRM
The Student List must navigate an intricate energy and foreign policy web with traditional Serbian ally Russia. The students have said they have no plans to align with the EU and impose sanctions on Moscow over its war in Ukraine.
The new government would be reliant on US sanctions waivers to maintain crude imports while it waits for the sale of Russia's stake in energy company NIS, which operates Serbia's only oil refinery, to Hungary’s MOL.
Russia's Gazprom is also Serbia’s biggest gas supplier, delivering around 2.2 billion cubic meters a year at below-market pricing. The Student List said this energy reliance was not a geopolitical alignment, but an acute economic dependency.
The Student List's top candidates had not said whether a future government would end all arms exports from Serbia to war zones, including sales to Western intermediaries who pass weapons to Ukraine. Vucic cultivated strong personal ties with both Ukrainian President Volodymyr Zelenskiy and Russian President Vladimir Putin.
CORRUPTION
The Student List’s anti-corruption program centres on institutional overhauls, such as the creation of an independent police unit accountable to prosecutors rather than the Interior Ministry and a purge of police officers linked to organised crime or violent crackdowns on protests.
They want a ban on the appointments of party loyalists to state-owned companies in favour of transparent, merit-based hiring. Financial accountability and fiscal oversight would include a strict asset origin law allowing the state to audit, seize and return illegally acquired wealth from officials to the state budget.
Convicted officials would be barred from holding public office. The students' anti-corruption program also envisions public scrutiny of all major state infrastructure contracts and the creation of independent oversight bodies to curb the misuse of public funds.
Vucic, the SNS and the authorities repeatedly denied accusations of repression and corruption.
ECONOMY
Serbia's economy is deeply integrated with both the European market and international investment flows.
The IMF has forecast Serbia's economic growth at 3% in 2026 and 4% in 2027. Inflation in September stood at 4.1%, almost double August's 2.2%, while the central bank has maintained a 5.75% benchmark rate since 2024.
The Student List’s economic platform shifts Serbia’s growth model away from state-backed infrastructure projects and cheap labour to domestic market security and labour rights.
Central to the plan is a campaign against retail monopolies to lower food prices, coupled with a tax overhaul that raises levies on wealthy citizens and cuts them for lower-income groups.
The movement has pledged to sharply lower the maximum allowed duration for temporary work.
Fiscal sustainability would rely heavily on anti-corruption savings and rigorous state oversight. Social spending would be focused on curbing a youth exodus through an affordable housing initiative for young couples, teachers and healthcare staff, alongside guaranteeing free school textbooks and cheaper, state-subsidised medication.
(Reporting by Aleksandar Vasovic; Editing by Kirsten Donovan)
