Invictus Technology Group has been forced to take drastic measures, including significant staff reductions, following what the company describes as "numerous illegal actions" by authorities in Republika Srpska and Bosnia and Herzegovina, as well as pressure from the U.S. Embassy on the banking sector. The company stated that all employees would receive their earned wages in accordance with their employment contracts and legal mechanisms.

Invictus, a newly established business entity, began operations earlier this month with optimism, hiring over 170 employees. The company was founded by a group of IT professionals aiming to operate under the laws of Republika Srpska and Bosnia and Herzegovina. However, the company now faces challenges due to banks’ reluctance to provide essential business services, allegedly due to pressure from the U.S. Embassy in Sarajevo.

The company explained that despite initially smooth registration processes, they encountered significant obstacles when attempting to open bank accounts. The banks, fearing further actions from the U.S. administration and potential sanctions, ignored the company’s efforts to establish basic financial operations.

As a result of these difficulties, Invictus is struggling to maintain financial stability, complicating the situation further each day. The company criticized the U.S. Embassy's actions, stating that they have deprived workers of their right to work and basic livelihood without any legal basis, and called on relevant institutions to find an appropriate solution to prevent similar discrimination against other domestic companies.

The company acknowledged that they might need to make severe cuts within the organization due to the current situation, despite the lack of support from institutions that should protect responsible businesses. Invictus also expressed pride in their employees, emphasizing that the collective has great potential but is now targeted by various interests, including competitors.

This situation follows the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) blacklisting seven companies from Bosnia and Herzegovina and two individuals in June 2024. These entities were identified as providing significant revenue sources for Republika Srpska President Milorad Dodik and his family. Among those sanctioned was “Infinity International Group,” which formed “Invictus Technology Group” to evade U.S. sanctions.