MEDIA RELEASE No: 2008-11 Date: 9 July 2008 Embargo: For Immediate Release

BANKING (FOREIGN EXCHANGE) REGULATIONS 1959
CHANGE TO SANCTIONS AGAINST THE (FORMER) FEDERAL REPUBLIC OF YUGOSLAVIA

The Reserve Bank of Australia, following a directive from the Australian Government under the Banking (Foreign Exchange) Regulations 1959, currently administers financial sanctions against certain individuals and entities associated with the former government of the Federal Republic of Yugoslavia.

The Australian Government has directed the Reserve Bank to remove the measures which prohibit certain large financial transactions involving the Embassy of the Federal Republic of Yugoslavia, the Consulate-General of the Federal Republic of Yugoslavia, and Narodna Banka Jugoslavije (including Banque Nationale de Yugoslavie).

The list of individuals (available in the attached Annex) associated with the former government of the Federal Republic of Yugoslavia who are subject to financial sanctions remains unchanged. Any transactions involving the transfer of funds or payments to, by the order of, or on behalf of any person listed in the Annex are prohibited without prior approval from the Reserve Bank.

Enquiries:
Manager, Media Office
Information Department
Reserve Bank of Australia
SYDNEY

Phone: +61 2 9551 9720
Fax:     +61 2 9221 5528
E-mail:  rbainfo@rba.gov.au