News Release
Federal Republic of Yugoslavia and Serbia: Ban on New Investment

12 August 1998

Following the publication in the Official Journal of the European Communities on 25 July 1998 of EU Regulation No 1607/98, a ban on new investment in the Republic of Serbia has come into force.

The Bank of England, on behalf of H M Treasury, has today issued a Notice to banks and other financial institutions which provides guidance in relation to transactions permitted under the Regulation.

Any queries about this Regulation should be addressed to the Sanctions Emergency Unit, Bank of England Threadneedle Street, London, EC2R 8AH.

Telephone +44 (0)20 7601 4607/4768/5811/3500
Fax +44 (0)20 7601 4309

Note for Editors

The ban on new investment in Serbia is associated with, but additional to, the freeze on funds implemented by the European Union at the end of June.

News media queries should be made to the Bank of England Press Office - telephone +44 171 601 4411.