Federal Republic of Yugoslavia & Serbia
On 10 November 2000 the European Union adopted Council Regulation (EC) No 2488/2000 which lifted an investment ban and financial sanctions which had previously been imposed in respect of the Federal Republic of Yugoslavia and the Republic of Serbia.
However, specific sanctions applicable to former President Slobodan Milosevic and those persons associated with him were maintained by the EU Regulation. These measures were adopted locally by the Federal Republic of Yugoslavia (Freezing of Funds) Ordinance, 2001.
All financial institutions and other bodies and persons in Guernsey will need to ensure they do not maintain any accounts or otherwise hold any funds or economic resources for the entities and individuals named in the HM Treasury consolidated lists.
The Policy Council is the competent authority and licensing authority in relation to these sanctions. Any queries should be sent to sanctions@gov.gg subject line 'Federal Republic of Yugoslavia'.
Relevant links & information
Council Regulation (EC) No 2488/2000
Placed freezing measures on funds belonging to the former President of the FRY, Mr Slobodan Milosevic and those persons associated with him.
Commission Regulation (EC) No 1205/2001
Amended annex 1 of 2488/2000
External Relations Team (Sanctions)
External Relations Team, Sir Charles Frossard House, La Charroterie, St Peter Port, Guernsey, GY1 1FH, Channel IslandsTel: +44 1481 717020 Fax: +44 1481 717000
Email: sanctions@gov.gg
