Update to Yugoslav Sanctions

OFAC has today published in the Federal Register an amendment to its Yugoslav regulations. Certain blocked FRYK funds transfers can be returned to remitters. Others must go forward into blocked accounts at U.S. banks that are the primary holders of those accounts. NFA debt is unblocked; other debt needs to be specifically licensed. For complete details, please see the regulationswhich are posted in the legal area of our web site. OFAC's brochure on Yugoslavia as well as its industry information for banks and for exporters and importers have been updated accordingly.