UEFA president Michel Platini is considering an appeal to increase the one-match spectator ban and 80,000 euro fine imposed on Serbia for racist abuse and violence towards England Under-21 players.
The sanction, imposed by UEFA's independent control and disciplinary panel, has been widely criticised for being too lenient, with the fine equating to just under £65,000.
UEFA itself can appeal to increase the severity of the punishment. UEFA sources said Platini has taken note of the sanction and will make a final decision once he has read the full file on his return from Japan next week.
The European body's prosecuting inspector had proposed more "drastic" measures, the Serbian federation has admitted.