International sanctions against the Federal Republic of Yugoslavia
International embargo imposed by the United Nations during the Yugoslav Wars / From Wikipedia, the free encyclopedia
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During the Yugoslav Wars of the 1990s and early 2000s, several rounds of international sanctions were imposed against the former Yugoslav republics of Serbia and Montenegro that formed a new country called the Federal Republic of Yugoslavia.
Part of the Yugoslav Wars | |
Date | 8 November 1991 – 1995 30 May 1992 – 22 November 1995 March 1998 – October 2000 |
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Type | International sanctions |
Target | Federal Republic of Yugoslavia |
In the first round of sanctions, which were imposed in response to the Bosnian War and Croatian War, and lasted between April 1992 and October 1995, Yugoslavia was placed under a United Nations (UN) embargo. The embargo was lifted following the signing of the Dayton Agreement, which ended the conflict.[1][2][3] During and after the Kosovo War of 1998–1999, Yugoslavia was again sanctioned by the UN, European Union (EU)[note 1] and United States.[1] Following the overthrow of Yugoslav President Slobodan Milošević in October 2000, the sanctions against Yugoslavia started to be withdrawn, and most were lifted by 19 January 2001.[4]
The sanctions had a major impact on the economy of Serbia and Montenegro and its society, with Serbia the hardest hit, its GDP dropping from $24 billion in 1990 to below $10 billion in 1993,[5] and $8.66 billion in 2000.[6] They also had a devastating impact on Yugoslav industry.[7] Poverty was at its highest in 1993, with 39 percent of the population living on less than $2 per day. Poverty levels rose again when international sanctions were re-imposed in 1998.[4] An estimated 300,000 people emigrated from Serbia in the 1990s, 20 percent of whom had a higher education.[8][9]