According to the Banking Law, everyone in Republika Srpska has the right to an account to receive their earnings. This right is now denied to some individuals and legal entities in Republika Srpska due to the imposition of sanctions, said Finance Minister of Republika Srpska, Zora Vidović.
Vidović, speaking on Morning Program RTRS, emphasized that the so-called OFAC list of sanctioned individuals and entities in normal countries is not binding.
“The banking law states that accounts cannot be closed; only new accounts cannot be opened. So, those who had to close their accounts can sue the bank and will win in court,” Vidović asserted.
As a result, individuals on the OFAC list voluntarily went to banks to close their accounts, so that banks would not be sanctioned and business entities would not be shut down.
“This move jeopardizes basic human rights because these people cannot withdraw their salaries, are excluded from any transactions, and must deal only with cash,” Vidović stated.
It is unprecedented, she said, that someone in Republika Srpska in the 21st century does not have the ability to receive their salary.
“This is absolutely about power, not the application of the law, and if this is not respected, there will be even greater consequences. There will be negative consequences, and legal entities cannot operate normally. For example, Integral Engineering, the largest company in Republika Srpska, which has loans from the EBRD for major projects they are undertaking,” Vidović pointed out.
The goal of these sanctions, she said, is to introduce unrest in Republika Srpska and to destroy its economy and independence as much as possible.
“However, we should not be overly concerned about this. To their dismay, Republika Srpska will survive. The budget functions normally, salaries, pensions, incentives, scholarships are paid regularly,” concluded the finance minister.
Source: RTRS
