Media Release Banking (Foreign Exchange) Regulations 1959 Change to Sanctions Against the (Former) Federal Republic of Yugoslovia

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.

UPDATE: On 7 March 2012, responsibility for the administration of Australia's autonomous financial sanctions was transferred from the RBA (under the Banking (Foreign Exchange) Regulations 1959) to the Department of Foreign Affairs and Trade (DFAT) (under the Autonomous Sanctions Regulations 2011).
This change was announced in RBA Media Release No 2012-05. As a result, the content of this media release is no longer current and any accompanying annexes and/or attachments have been removed. For all enquiries about Australia's autonomous financial sanctions regime, including the current list of sanctioned individuals and entities, refer to the DFAT website.


Manager, Media Office
Information Department
Reserve Bank of Australia

Phone: +61 2 9551 9720
Fax: +61 2 9551 8033