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Upholding the Dayton Peace Agreement Through Sanctions Act
4/3/2024, 3:15 PM
Summary of Bill HR 4723
The main provision of the bill is the imposition of sanctions on individuals or entities that are found to be undermining the Dayton Peace Agreement. These sanctions could include asset freezes, travel bans, and other punitive measures.
The bill also calls for increased support for the implementation of the Dayton Peace Agreement, including funding for peacebuilding efforts and support for democratic institutions in Bosnia and Herzegovina. Supporters of the bill argue that enforcing the Dayton Peace Agreement is crucial for maintaining stability in the region and preventing a return to conflict. They believe that sanctions are an effective tool for holding individuals accountable for their actions. Opponents of the bill may argue that sanctions could be counterproductive and harm innocent civilians in Bosnia and Herzegovina. They may also question the effectiveness of sanctions in achieving the desired outcomes. Overall, the Upholding the Dayton Peace Agreement Through Sanctions Act is a significant piece of legislation that aims to support peace and stability in Bosnia and Herzegovina by enforcing the terms of the Dayton Peace Agreement.
Congressional Summary of HR 4723
Upholding the Dayton Peace Agreement Through Sanctions Act
This bill imposes visa- and property-blocking sanctions on foreign persons (i.e., individuals or entities) that are involved in certain actions that threaten the peace, stability, or democracy of Bosnia and Herzegovina.
The President must impose such sanctions on certain foreign persons, including those that are responsible for or engaged in corruption or certain acts or policies that seek to (1) threaten the peace, security, stability, or territorial integrity of Bosnia and Herzegovina; (2) undermine democratic processes or institutions in Bosnia and Herzegovina; or (3) undermine the Dayton Peace Agreement or certain authorities related to the agreement. (The agreement brought an end to the Bosnian War, and Bosnia and Herzegovina's constitution stems in part from the agreement.)
The Department of the Treasury may impose certain prohibitions and restrictions on a foreign financial institution that knowingly conducts or facilitates a significant transaction for a foreign person subject to sanctions under this bill.
The bill also provides statutory authority for sanctions imposed under Executive Order 13219 and Executive Order 14033 (both orders impose sanctions on persons threatening stability in the Western Balkans).
