April 12, 2022

OFAC sanctions officials and businessmen in Western Balkans for corruption and destabilizing actions

On April 11, 2022, the US Department of the Treasury’s Office of Foreign Assets Control designated seven individuals and one entity from the countries of Albania, Bosnia and Herzegovina, Montenegro, and North Macedonia pursuant to Executive Order 14033, which targets persons who threaten the stability in the Western Balkans through corruption, criminal activity and other destabilizing behavior.  OFAC reports that this is only the second time that it has imposed sanctions pursuant to EO 14033. The designees include government officials who have used their political power or offered money, gifts and other favors for personal gain, and private businessmen who have engaged in bribery, money laundering or other forms of corruption to advance their businesses and/or evade capture. 

As a result of these designations, all property and interests in property of today’s designees within the United States or within the possession or control of a U.S. person are blocked, and U.S. persons are generally prohibited from engaging in transactions involving the designated persons.  US persons may face civil or criminal penalties for violating EO 14033.

Department of Treasury Press Release