Russia has accused the European Union of imposing "creeping" economic sanctions following Bulgaria's decision to halt construction of a gas pipeline.
The South Stream pipeline, financed by Russia's state gas giant Gazprom, would ship gas to western Europe via the Balkans, thus avoiding Ukraine.
But the European Commission says the pipeline may break EU competition rules and asked Bulgaria to suspend work.
Serbia's prime minister has denied his country has also halted building work.
Reports on Sunday had quoted Serbian ministers as saying the work was on hold until the EU, Russia and Bulgaria resolved their dispute.
But speaking on Monday, Prime Minister Aleksandar Vucic said no such decision had been made.
Serbia is in talks with the EU on joining the bloc. Bulgaria is already an EU member state.
'Political purposes'
Construction work on the South Stream pipeline began in Bulgaria in October 2013.
It is intended to deliver Russian gas to southern Europe without passing through Ukraine and if built, it would deliver 63 billion cubic metres of natural gas a year.
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