ZAGREB, Feb 13 (Hina) - A decision by the U.S. Office of Foreign Assets Control (OFAC) to unfreeze part of ex-Yugoslavia's assets in international institutions comes into effect on February 25, which is why four successors to the
former federation, except Serbia and Montenegro, have decided to contact OFAC individually so that US$40 million, which might go to all successors, is not unfrozen.
ZAGREB, Feb 13 (Hina) - A decision by the U.S. Office of Foreign
Assets Control (OFAC) to unfreeze part of ex-Yugoslavia's assets in
international institutions comes into effect on February 25, which
is why four successors to the former federation, except Serbia and
Montenegro, have decided to contact OFAC individually so that US$40
million, which might go to all successors, is not unfrozen. #L#
An agreement to that effect was reached by a committee in charge of
the distribution of financial assets and liabilities of the
Socialist Federal Republic of Yugoslavia (SFRY). It met in Zagreb
on Thursday and was attended by representatives of SFRY's five
successor states.
Sixty-two million dollars of funds that are to be unfrozen is not
contested as it refers to assets of banks and companies located in
Serbia and Montenegro, Zdravko Rogic, Croatia's authorised
representative, told a news conference after the meeting.
However, all successors lay claim to $40 million, which, according
to documents at OFAC, belongs to SFRY departments and agencies.
Rogic said Croatia would not ratify a succession agreement until
light was shed on what had happened to assets in mixed banks. The
agreement initially spoke of $645 million, but documents
subsequently submitted by Serbia and Montenegro indicate that this
referred to book value and that only $56 million were left in the
mixed banks. What happened to $590 is a mystery.
Talks on the division of SFRY assets will resume.
(hina) ha sb