US Imposes Global Financial Sanctions on Bosnia and Herzegovina Officials

The United States Department of the Treasury’s Office of Foreign Assets Control (OFAC) has designated two individuals and one business entity in Bosnia and Herzegovina (BiH) for their involvement in corrupt activities that undermine democratic processes and institutions.

Background

According to a statement by Under Secretary of the Treasury for Terrorism and Financial Intelligence Brian E. Nelson, the designations are part of the US government’s efforts to hold accountable those who destabilize the region and their supporters.

Designated Individuals

Fadil Novalic

Fadil Novalic, the Prime Minister of the Federation of Bosnia and Herzegovina (FBiH), was accused of misusing pensioner data for the benefit of his own political party. He was designated pursuant to Executive Order 14033 for being responsible for or complicit in actions that undermine democratic processes or institutions in the Western Balkans.

Slobodan Stankovic

Slobodan Stankovic, one of the wealthiest individuals in BiH, has been linked to corruption in the construction sector. He is also a former owner of U.S.-designated Alternativna Televizija d.o.o. Banja Luka (ATV), a media outlet under the personal control of U.S.-designated and corrupt member of the Presidency of BiH, Milorad Dodik.

Designated Business Entity

Integral Inzenjering A.D. Laktasi

Integral, a business entity owned or controlled by Stankovic, was designated for being owned or controlled by him.

Implications of Designations

As a result of these designations:

• All property and interests in property of the designated persons that are in the United States or in the possession or control of U.S. persons are blocked and must be reported to OFAC.
• 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.
• Financial institutions and other persons that engage in certain transactions or activities with the sanctioned entities and individuals may expose themselves to sanctions or be subject to an enforcement action.

Reporting Information

The US government encourages anyone who has information about these designations to report it to OFAC.