Circulars/Notifications - Exchange Policy Department  
 F.E. Circular No. 61
June 25, 1992 

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:-

  1. 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.

  2. Denial of civil aviation facilities to aircraft taking off from Serbia and Montenegro.

  3. Ban on official participation of Serbia and Montenegro in International sporting events.

  4. 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.

 

 

       
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