Representatives of relevant authorities in Bosnia and Herzegovina attending the workshop on 29-30 April in Sarajevo, organised by the Council of Europe, received comprehensive insights into effective strategies and practices for the successful enforcement of targeted financial sanctions. This event built on previous collaboration with the Ministry of Security of Bosnia and Herzegovina and followed the recent completion of a “Manual for Supervisory Authorities Responsible for Monitoring Compliance with Targeted Financial Sanctions” in January 2024.

Council of Europe experts shared their knowledge and experience on compliance mechanisms and enforcement strategies, among other relevant topics. The workshop aimed to guide supervisory authorities responsible for overseeing the application of targeted financial sanctions in Bosnia and Herzegovina, equipping them with the tools needed for effective monitoring and inspection.

Sessions covered a range of topics, from deepening participants’ understanding of targeted financial sanctions to clarifying the roles and responsibilities of various authorities and entities involved. Practical aspects, such as inspection procedures, methodologies, and enforcemet procedures following inspection shortcomings, were also thoroughly discussed.

The workshop encouraged hands-on learning, including practical exercises and presentations of inspection checklists, and emphasized the importance of cooperation and coordination among agencies and international partners to ensure robust sanction enforcement.

The workshop brought together representatives of different supervisory institutions, including Ministry of Justice of Bosnia and Herzegovina, Ministry of Justice of Republika Srpska, Banking Agency of the Federation of Bosnia and Herzegovina, Banking Agency of the Republika Srpska, Insurance Agency of Federation of Bosnia and Herzegovina, Insurance Agency of Republika Srpska, Notary Chamber of Republika Srpska, Notary Chamber of Federation of Bosnia and Herzegovina, the Bar Association of Republika Srpska, Judicial Commission of Brčko District of Bosnia and Herzegovina, and others. The representatives of the Ministry of Security of Bosnia and Herzegovina also took part, delivering a presentation on the current status and ongoing developments regarding targeted financial sanctions in Bosnia and Herzegovina.

This workshop is a part of the Council of Europe's three-year initiative focused on combating corruption, money laundering, and terrorist financing in Bosnia and Herzegovina, funded under the joint European Union and Council of Europe programme “Horizontal Facility for the Western Balkans and Türkiye III” and through a voluntary contribution of the Council of Europe.