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SECO lifts FRY sanctions

Swiss regulators announced today that, as of tomorrow (April 1, 2015), the sanctions on individuals from the former Federal Republic of Yugoslavia (FRY) will be lifted. There were only 13 persons left on that list since it was last revised in 2001.

Google Translate provides the following for the SECO announcement:

Bern, 24.03.2015 – The Federal Council repealed on March 6, 2015, the Regulation on measures against certain persons from the former Federal Republic of Yugoslavia. These included since the end of 2001, only more financial sanctions against 13 individuals, including former President Slobodan Milosevic. The repealing Regulation shall enter into force on 1 April 2015.

Currently, there are no longer any reason to continue the financial sanctions against certain persons from the former Federal Republic of Yugoslavia. The EU has the remaining sanctions against Slobodan Milosevic and his entourage people end October 2014 also canceled.

The Federal Council decided Regulation of 23 June 1999 on measures against certain persons be-from the former Federal Republic of Yugoslavia in response to the Kosovo crisis and in line with the sanctions imposed by the European Union (EU). The Regulation originally covered deep trade and financial restrictions against the Federal Republic of Yugoslavia and the Republic of Serbia. As a result of political development and in compliance with the sanctions imposed by the EU Regulation or its annexes have been adapted several times. Since late 2001, the Regulation provides only before the blocking of funds and the payment of 13 individuals. These are former President Slobodan Milosevic, his family and his closest people environment. The State Secretariat for Economic Affairs SECO have been reported not blocked assets of these persons.

Links:

FINMA Notice

SECO Announcement

 

Categories: Former Federal Republic of Yugoslavia sanctions Sanctions Lists Sanctions News Sanctions Programs SECO Updates

eric9to5

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