US Imposes Financial Sanctions on Countries in Macedonia, the Former Yugoslav Republic
Washington D.C., [Date] - The US Office of Foreign Assets Control (OFAC) has announced a series of financial sanctions against countries in Macedonia, the former Yugoslav republic. The sanctions aim to curb economic activities that could destabilize the region and threaten international stabilization efforts.
Background
The sanctions are based on multiple legal authorities, including executive orders issued by the President and public laws passed by Congress. The regulations are further codified in the Code of Federal Regulations (CFR) and modified as necessary through postings in the Federal Register.
Sanctions Program
The sanctions program is implemented through a range of measures, including:
- Blocking property
- Suspending entry into the United States of certain persons contributing to the destabilizing situation in the Western Balkans
OFAC has issued guidance on specific licensing policies, including the release of limited amounts of blocked funds for payment of legal fees and costs incurred in challenging the blocking of US persons. The agency has also published FAQs on its sanctions programs and related policies.
General Licenses
General licenses have been issued to authorize certain activities that would otherwise be prohibited, such as:
- Providing legal representation in matters pending before the International Criminal Tribunal for the former Yugoslavia
Entities Affected by Sanctions
- [List specific countries or entities affected by sanctions]
- [List specific individuals or organizations whose property and interests in property are blocked]
Frequently Asked Questions
What activities are prohibited under the sanctions?
How can I apply for a license to engage in an activity that would otherwise be prohibited?
Can I still conduct business with entities owned by persons whose property and interests in property are blocked?
Additional Resources
- OFAC’s FAQs on Balkans-Related Sanctions
- Guidance on OFAC Licensing Policy
- General Licenses issued under the Western Balkans Stabilization Regulations