
The President of BiH's Republika Srpska (RS) entity, Milorad Dodik, announced that individuals on the U.S. blacklist would be protected, but he did not specify how. Economists have warned that obstructing sanctions policies could lead to banks losing their licenses. On the other hand, they caution that sanctions cannot be easily lifted, a fact the entity president seems to overlook with the anticipated inauguration of the new U.S. administration under Donald Trump.
Milorad Dodik failed to protect his daughter Gorica’s restaurant. After nine years of operation, she announced that the establishment had to close due to U.S. sanctions. It’s worth noting that Dodik stated on Friday that those on the blacklist would be protected and that banks would be required to open accounts for all individuals by Monday.
A similar confirmation was missing a day later at a press conference held by his advisor on the topic of U.S. sanctions. When asked if they expected changes with Trump’s arrival, Radovan Kovacevic said:
“We can’t predict how things will unfold with the new president, Donald Trump. We’re not fortune-tellers, but it’s clear to us that things will change and be different.”
Thirteen new individuals have been added to the U.S. blacklist for aiding in enriching the Dodik family, failing to enforce Constitutional Court decisions regarding January 9, and advancing plans for the secession of Republika Srpska. Their accounts must be closed. As for Dodik’s demands, bankers remain silent for now, waiting for Monday.
“He can’t order anything, especially not to banks. The SWIFT system, the international payment system, is under U.S. control, and no bank or individual will risk losing their license because that would lead to the bank’s bankruptcy,” warned Zijad Becirovic, director of the International Institute for Middle Eastern and Balkan Studies.
In July last year, the National Assembly of Republika Srpska passed a set of laws intended to allow the Investment and Development Bank of RS to handle payment transactions, including accepting monetary deposits, specifically to assist companies on the blacklist. To date, the IRB has not established a payment system or implemented the adopted laws, primarily due to fears of sanctions.
It is worth recalling a statement made at the time by SNSD MP and IRB director Drazen Vrhovac when the laws were being adopted:
“Even the IRB will not be able to open an account for any legal or physical entity on the blacklist. So, we don’t have a problem with the IRB coming under sanctions.”
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