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OFAC sanctions additional persons in Bosnia and Herzegovina
On March 15, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) announced sanctions against three individuals in Bosnia and Herzegovina (BiH), pursuant to Executive Orders 14033 or 14059. The designations build on other sanctions measures taken in the region (covered by InfoBytes here) and “collectively underscore the United States’ willingness to hold accountable those who are undermining democratic institutions and furthering their agendas for political and personal gain, at the expense of peace, stability, and progress in the Western Balkans,” OFAC explained. Specifically, the sanctions target the director general for BiH’s Intelligence Security Agency, a BiH national who headed an agency responsible for obstructing or threatening the implementation of the Dayton Peace Agreement, and a significant Balkans narcotics trafficker.
As a result of the sanctions, all property and interests in property belonging to the sanctioned individuals subject to U.S. jurisdiction are blocked and must be reported to OFAC. Additionally, “any entities that are owned, directly or indirectly, individually or in the aggregate, 50 percent or more by one or more blocked persons are also blocked.” OFAC further noted that “transactions by U.S. persons or within (or transiting) the United States that involve any property or interests in property of designated or blocked persons are prohibited unless authorized by a general or specific license issued by OFAC, or exempt,” which “include the making of any contribution or provision of funds, goods, or services by, to, or for the benefit of any blocked person, or the receipt of any contribution or provision of funds, goods, or services from any such person.” OFAC warned financial institutions and other persons that should they engage in certain transactions or activities with the sanctioned individuals they may expose themselves to sanctions or be subject to an enforcement action.
OFAC sanctions persons in Bosnia and Herzegovina
On October 3, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) announced sanctions pursuant to Executive Order 14033 against two individuals and one business entity in Bosnia and Herzegovina (BiH). According OFAC, these designations follow OFAC’s September 26 designation of a corrupt state prosecutor in BiH and build on other recent sanctions imposed on individuals and entities in the region (covered by InfoBytes here). Collectively, OFAC noted that “these actions underscore the United States’ willingness to hold accountable those enabling divisive and destabilizing activities in the Western Balkans.” OFAC further noted that one of the designated individuals is one of the wealthiest individuals in BiH and is the longtime owner of a large engineering firm. According to OFAC, the individual and the firm “have been linked to corruption in the construction sector.” The sanctions also target the Prime Minister of the Federation of Bosnia and Herzegovina for “misus[ing] pensioner data for the benefit of his own political party and contrary to BiH law.” As a result of the sanctions, all property and interests in property belonging to the sanctioned individuals and entities subject to U.S. jurisdiction are blocked and must be reported to OFAC. Additionally, “any entities that are owned, directly or indirectly, 50 percent or more by one or more blocked persons are also blocked.” OFAC further noted that “transactions by U.S. persons or within (or transiting) the United States that involve any property or interests in property of designated or blocked persons are prohibited unless authorized by a general or specific license issued by OFAC, or exempt,” which “include the making of any contribution or provision of funds, goods, or services by, to, or for the benefit of any blocked person and the receipt of any contribution or provision of funds, goods, or services from any such person.”
OFAC sanctions state prosecutor in Bosnia and Herzegovina
On September 26, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) announced sanctions pursuant to Executive Order 14033 against a state prosecutor in Bosnia and Herzegovina. According to OFAC, the individual has played a central role in enabling corruption and has been designated for being “responsible for or complicit in, or having directly or indirectly engaged in, actions or policies that undermine democratic processes or institutions in the Western Balkans.” As a result of the sanctions, all property and interests in property belonging to the sanctioned individual subject to U.S. jurisdiction are blocked and must be reported to OFAC. U.S. persons are also generally prohibited from engaging in any dealings involving the property or interests in property of blocked or designated persons unless authorized by an OFAC general or specific license. U.S. persons who violate these prohibitions may face civil or criminal penalties.
OFAC sanctions actors throughout the Western Balkans
On June 6, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) announced sanctions against two prominent officials in Bosnia and Herzegovina. This is the third action taken under E.O. 14033. According to the Under Secretary of the Treasury for Terrorism and Financial Intelligence, the designated individuals “have each sought to pursue ethnonationalist and political agendas at the expense of the democratic institutions and citizens of Bosnia and Herzegovina.” As a result of the sanctions, all assets belonging to the designated persons that are in the United States or in the possession or control of U.S. persons must be blocked and reported to OFAC. U.S. persons are generally prohibited from engaging in dealings involving any property or interests in property of the blocked or designated persons.
OFAC sanctions actors throughout the Western Balkans
On April 11, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) announced sanctions pursuant to Executive Order (E.O.) 14033 against seven individuals and one entity across four countries in the Western Balkans, which “is the second action OFAC has taken under E.O. 14033 targeting persons who threaten the stability of the region through corruption, criminal activity, and other destabilizing behavior.” OFAC also noted that the Department of State is designating individuals from North Macedonia and Bosnia and Herzegovina under Section 7031(c) of the Department of State, Foreign Operations, and Related Programs Appropriations Act, 2022, instituting what is commonly known as a visa ban. As a result of the sanctions, all assets belonging to the designated persons that are in the United States or in the possession or control of U.S. persons must be blocked and reported to OFAC. U.S. persons are generally prohibited from engaging in dealings involving any property or interests in property of the blocked or designated persons.
OFAC sanctions BiH official and entity
On January 5, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) announced sanctions, the first designations under Executive Order 14033, against an individual and one entity under that individual’s control in response to corrupt activities and ongoing threats to the stability and territorial integrity of Bosnia and Herzegovina (BiH). According to OFAC, the designated individual has used his official BiH position to accumulate personal wealth through graft, bribery, and other forms of corruption and has undermined BiH institutions by attempting to unilaterally transfer state competencies from the BiH government, among other things. As a result of the sanctions, all property and interests in property of the sanctioned individual subject to U.S. jurisdiction are blocked and must be reported to OFAC. OFAC noted that its regulations generally prohibit U.S. persons from participating in transactions with the designated person, which include “the making of any contribution or provision of funds, goods, or services by, to, or for the benefit of any blocked person or the receipt of any contribution or provision of funds, goods or services from any such person.”