MEDIA RELEASE No: 1999-15 Date: 22 December 1999 Embargo: For Immediate Release

BANKING (FOREIGN EXCHANGE) REGULATIONS SANCTIONS AGAINST THE TALIBAN AND UNITA

The Reserve Bank of Australia has been directed to take steps under the Banking (Foreign Exchange) Regulations to give effect to United Nations Security Council resolutions imposing sanctions against the Afghan faction known as the Taliban and the National Union for the Total Independence of Angola (UNITA). This statement outlines the measures implemented by the Bank.

1. The Taliban

The United Nations Security Council has imposed sanctions against the Taliban (which also calls itself the Islamic Emirate of Afghanistan) because of its continued provision of sanctuary and training for international terrorists and their organisations, and its failure to cooperate with efforts to bring indicted terrorists, in particular Usama bin Laden, to justice.

With effect from today, transactions involving the transfer of funds or payments to, by the order of, or on behalf of the Taliban, or any undertaking owned or controlled, directly or indirectly, by the Taliban, are no longer permitted without the specific approval of the Reserve Bank of Australia.

2. UNITA

The sanctions against UNITA are in response to the continuing civil war in Angola and, in particular, UNITA's failure to comply with its obligations under UN-sponsored peace agreements.

With effect from today, transactions involving the transfer of funds or payments to, by the order of, or on behalf of the following are no longer permitted without the specific approval of the Reserve Bank of Australia:

• UNITA as an organisation;
• senior officials of UNITA; or
• adult members of the immediate families of the senior officials of UNITA.

3. Approval of transactions

Such transactions may only be approved by the Reserve Bank if they are for verified medical or humanitarian purposes.

Applications for approval of transactions should be directed to:

The Senior Manager
International Finance
International Department
Reserve Bank of Australia
GPO Box 3947
SYDNEY NSW 2001
Facsimile No: (02) 9551 8023

Enquiries:
Mr Darren Flood Senior Manager International Department Reserve Bank of Australia SYDNEY Telephone: (02) 9551 8402	Manager, Information Office Reserve Bank of Australia SYDNEY (02) 9551 9720