Serbia will replace reigning Davis Cup champion Russia, which is facing suspension from international sporting competitions because of its invasion of Ukraine.
Australia, on the other hand, will take Russia's spot in the Billie Jean Cup, the International Tennis Federation confirmed Monday.
Serbia was chosen to take part in the Davis Cup finals in September because it was the highest-ranked losing semifinalist in 2021.
The Serbs, led by Novak Djokovic, had already been given a wild card for this year's finals without passing through the qualifiers.
That wild card will now pass to another country, chosen from the 12 losing nations from the 2022 qualifiers.
Russia beat Croatia to win the Davis Cup title in December.
The group stage of the finals will take place across four cities in September before the quarterfinals, semifinals and final are hosted at a fifth city in November. Those venues have yet to be announced.
Australia received its place in the Billie Jean King Cup as the highest-ranked losing semifinalist in 2021.
The Australian team will no longer have to compete in the qualifiers on April 15-16, meaning its opponents Slovakia will receive a bye and advance directly to the 2022 finals.
Russia is also the reigning champion in that competition. It was just the fourth nation to win both team competitions in one year.
