All
Authorised Dealers
in Foreign Exchange,
Dear
Sirs,
TRADE
EMBARGO AGAINST SERBIA AND MONTENEGRO
It
is advised that the U.N. Security Council has adopted Resolution
No.757 imposing sanctions against Serbia and Montenegro
(former Yugoslavia). The salient features of the said Resolution
are as under:-
-
Total
trade embargo against Serbia and Montenegro. Embargo
has also been placed on transfer of funds for export
or shipment of any commodity produced in Serbia and
Montenegro. Exceptions are, however, made in respect
of medicines and humanitarian assistance.
-
Denial
of civil aviation facilities to aircraft taking off
from Serbia and Montenegro.
-
Ban
on official participation of Serbia and Montenegro in
International sporting events.
-
Suspension
of scientific, technical and cultural cooperation.
2.
As this Resolution is mandatory, Authorized Dealers are
advised to follow the same in letter and spirit to avoid
any infringement thereof in respect of all imports/exports/other
payments.
3.
The contents of this Circular may be brought to the notice
of your constituents.
