US Unfreezes Part of Former Yugoslavia's Funds

February 26, 2003

America has unfrozen some of the former Yugoslavia's funds in this country, said today the American Embassy with Belgrade.

In line with the information published on December 27, 2002 in the US Federal Registry, limitations on transactions that include many of the funds which were blocked by sanctions during the Milosevic regime have been lifted, said the Embassy.

Yugoslavia's funds were frozen in 1992 when the country faced sanctions over the wars in Bosnia and Herzegovina and Croatia.

The funds that were frozen belong to former Yugoslav banks and companies, state agencies and services.

The decision on unfreezing the funds does not refer to the assets of former Yugoslavia's diplomatic missions, former National Bank of Yugoslavia or to some private funds that are still under sanctions.

America welcomed the unfreezing of these funds describing it as an important step in normalizing relations with all former Yugoslavia's successors.

More Information on the Sanction Against the Former Yugoslavia

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