Ahern announced US Treasury sanctions for actors undermining BiH's future

SARAJevo, (Patria) - Acting Assistant Secretary in the Department of the Treasury, Paul Ahern, visited Bosnia and Herzegovina from December 15 to 17. During the visit, he met with key leaders to point out the risk to BiH's investment climate and citizens' trust, in case BiH does not implement key reforms related to preventing money laundering and terrorist financing and does not take serious steps to eradicate corruption. Mr. Ahern is visiting the region to discuss the threat that corruption poses to the stability and prosperity of the Western Balkans, and especially to BiH.

At meetings with the Chairman of the Council of Ministers of BiH, Zoran Tegeltija, the Minister of Finance of BiH, Vjekoslav Bevanda, and the Minister of Security of BiH, Selma Cikotić, Mr. Ahern was informed about the challenges BiH faces as it prepares for the 5th round of MONEYVAL mutual evaluation according to the standards of the Financial Action Task Force (FATF). Mr. Ahern emphasized that BiH must act quickly to improve its system for preventing money laundering and terrorist financing (AML/CFT), otherwise it could be returned to the FATF "grey list". He appealed to BiH to show MONEYVAL not only that it is capable of new legislation, but also of implementing an effective system to combat money laundering and terrorist financing. Without implementing reforms, investors and financial institutions may refrain from doing business with BiH. The United States government supports the citizens of BiH who seek a government that will enable a more prosperous future without corruption, a future that will offer them plenty of economic opportunities.

As emphasized in the recently published US Strategy on Countering Corruption, fighting corruption is a national security priority for President Biden and his administration. Through his Executive Order 14033, the President also expanded sanctions authorities for the Western Balkans, targeting corrupt actors.

The conclusions of the National Assembly of Republika Srpska from December 10, aimed at withdrawing competencies from state institutions, threaten to nullify the last twenty-six years of peace and stability in the region. All leaders in BiH have a responsibility to work on de-escalating tensions and engaging in dialogue through BiH's institutions.

"The United States will not hesitate to hold actors in BiH, regardless of their political affiliation, accountable for their destabilizing actions and persistent corruption," said Acting Assistant Secretary Ahern.

"The US Department of the Treasury can and will use all available tools to counter corrupt actors who undermine the future of BiH and its citizens."

The US Department of the Treasury looks forward to cooperating with BiH authorities in resolving issues of money laundering and terrorist financing, as resolving these issues is key to combating systemic corruption. At the same time, the Department of the Treasury will continue to monitor the political situation and use its authorities to promote the stability of Bosnia and Herzegovina.