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08/03/2022

Concerning the questions and information presented to the CBCG, we inform the public that the CBCG did not prohibit opening accounts for individuals and legal entities from the Russian Federation’s territory because it is not under its competence.

On the Ministry of Foreign Affairs proposal, the Government of Montenegro decides to introduce all types of restrictive measures.

Namely, we remind of Article 7 of the Law on International Restrictive Measures. The Law reads that, immediately after their adoption, United Nations Security Council resolutions establishing restrictive measures are published in the original on the website of the state administration authority responsible for foreign affairs (Ministry of Foreign Affairs). The measures are applied to designated persons on the United Nations list without delay.

Immediately after the UN Security Council resolution adoption imposes such measures, the Ministry of Foreign Affairs shall inform the state authorities, state administration, local self-government authorities and local administration bodies, banks, and other financial organisations, and other legal and natural persons exercising public authority or public service about adopting the United Nations Security Council resolution. All natural and legal persons are obliged to refrain from any business relationship, provision of services or assistance to designated persons and persons directly or indirectly related to them.

In addition to the above resolutions, restrictive measures are introduced based on European Union acts, decisions of other international organisations of which Montenegro is a member, or whose statements it joins following foreign policy priorities, and other grounds under international law.

Concerning the above, the CBCG acts within its powers and competencies, supervising the application of laws and other regulations governing banking operations.