EFFECTS OF US SANCTIONS: Closure of “Srpska Kuća” Leads to Potential Blockade of at Least 25 Companies

During the last financially documented year of 2022, companies close to the family of the President of Republika Srpska, Milorad Dodik, generated a revenue of 380,782,880 KM. Now, 25 of them fear the closure of their accounts in domestic banks due to announcements of tightening US sanctions. The account of the "Srpska Kuća" Foundation, managed by Dodik's daughter Gorica, has already been closed. Panic among those extensively utilizing republic and local budgets in their operations is reaching its peak.

Following Ana Moris, Acting Assistant Secretary of the United States Department of the Treasury, stating on March 7th that "banks and other financial institutions conducting transactions for individuals or entities under US sanctions are at significant risk of finding themselves in the same situation", and announcing that more such measures can be expected in Bosnia and Herzegovina for those "undermining peace, stability, and the territorial integrity of BiH", Dodik announced that he himself will close accounts in banks and called on other sanctioned entities to do the same.

BUSINESS OPERATIONS AND ACCOUNTS UNDER SCRUTINY

While he was announcing, the leader of the United Srpska and his coalition partner Nenad Stevandić said he had already done so. The chairwoman of the Council of People of Republika Srpska, Srebrenka Golić, also joined him. Sanctioned individuals such as the son of the President of RS Igor Dodik, daughter Gorica Dodik, member of the BiH Presidency Željka Cvijanović, Prime Minister of RS Radovan Višković, Minister of Justice of RS Miloš Bukejlović, Minister of Energy and Mining Petar Đokić, Minister of Health and Social Welfare Alen Šeranić, Director of the Republican Administration for Geodetic and Property Legal Affairs of RS Dragan Stanković, Dodik's advisor Branislav Okuka, his secretary Jelena Pajić-Baštinac, and the head of the RS Representation in Moscow Duško Petrović did not specify the status of their personal accounts.

However, Gorica Dodik stated on the social media platform "X" that the bank had already closed the account of the "Srpska Kuća" Foundation.

Now, companies such as "Kaldera Company" (revenue 19,666,423 KM), "GP Krajina" owned by tycoon Borko Đurić (12,024,244 KM), "Grand Trade" of Dodik's best man and convicted criminal Mile Radišić (4,541,750 KM), "Niskogradnja" of tycoon Ljubomir Ćubić (28,596,223 KM), "Red Box Media" (462,028 KM), "Prointer ITSS" from Banja Luka (49,341,008 KM), "Prointer ITSS" from Sarajevo (2,189,259 KM), "Infinity ADS" (1,297,191 KM), "Infinity International Group" (3,784,306 KM), "Sirius 2010" (5,450,204 KM), marketing agency "Euphoria" (827,665 KM), department store "Boska" (3,006,569 KM), "Alpha Security" (8,107,520 KM), "Delta Real Estate" (19,179,046 KM), restaurant "Agape" (2,197,820 KM), "Agro destil" (1,321,521 KM), "Eco Group" (4,578,662 KM), "DL Plakat" (740,263 KM), "Interkont komerc" (4,523,607 KM), Basketball Club Igokea (2,720,557 KM), "Integral Engineering" owned by the family of Slobodan Stanković (194,139,844 KM), "Alternative Television" (10,920,976 KM), "A Media" (291,166 KM), "EP Mobile" (29,113 KM), "Infinity Media" (509,187 KM), "Una World Network" (336,728 KM), and many others could easily find themselves in trouble.

HUNT FOR PUBLIC FUNDS

Since the beginning of the month, when the information about account closures surfaced, Banja Luka-based "Prointer", which "cooperates" with the president's son Igor, predominantly with SNSD representatives of institutions, directors of public enterprises, and institutions, has secured contracts worth an incredible 5,362,726 KM including VAT.

On March 1st, the Ministry of Education and Culture of RS chose "Prointer" based on only one received offer. Their task will be maintaining the educational module Educom - information system in secondary educational institutions in RS. A significant figure – 599,999 KM.

On the same day, the Government of RS, led by "blacklist member" Radovan Višković, decided based on one received offer. For maintaining the data centre – 1,300,000 KM, for maintaining the information system – exactly two million marks.

Three days later, the Hydroelectric Power Plants on the Drina agreed to provide 46,794 KM for active network equipment, and "Elektro-Bijeljina" for IP phones – 303,966 KM.

SNSD's director of the University Clinical Center of RS, Vlado Đajić, on March 7th, chose "Prointer" for the procurement of network equipment – 351,000 KM, and on March 11th, the director of the Health Insurance Fund of RS, Dejan Kusturić, for maintaining the business information system – 585,468 KM. The next day, "blacklist member" Dragan Stanković, with the most famous IT company, signed a contract for the procurement of IP phones – 175,499 KM.

"CARE" OF THE AUTHORITIES FOR THE OPPOSITION

Nenad Stevandić stirred unrest among the ranks of the opposition. He stated that he had information that, due to sanctions, the account of the Democratic Party of Srpska would also be closed, and then lamented about human rights, as if he hadn't brutally insulted the same former party colleagues from the SDS during the past years since being in coalition with Milorad Dodik.

Even Jelena Pejić-Baštinac stated:

"This is an election year, it will be very interesting to see how these American sanctions will affect them, or rather the banks. If the same consequence that we had will also affect that political party, we are talking about the SDS, beware of the extent of democracy being undermined; thereby, the same political party will be prevented from registering and running in the upcoming elections. This is a defeat for democracy and everything that the American administration has promoted and advocated in the previous period".

However, the US Embassy in BiH stated that the Office of Foreign Assets Control (OFAC) of the US Department of the Treasury sanctioned the SDS as far back as 2004 and that the party is still under sanctions today. They mentioned the procedure for lifting sanctions.

The SDS remains silent.

(zurnal.info)