26 June 1998

Following the publication in the Official Journal of the European Communities on 23 June 1998 of EU Regulation No 1295/98, a freeze on the funds held by the Governments of the Federal Republic of Yugoslavia and Serbia has come into force

The Bank of England, on behalf of the HM Treasury therefore announces that with effect from 23 June 1998 all funds held by banks and other financial institutions in the United Kingdom belonging to the Government of the Federal Republic of Yugoslavia and/or the Government of the Republic of Serbia should be frozen

Any queries about this regulation should be addressed to the:
Bank of England Sanctions Emergency Unit
Telephone 0171 601 4607/3500/4768/3848/5811
Fax 0171 601 4309

A Bank of England Notice giving further guidance will be issued as soon as possible.