U.S. blacklists sanctions evasion network tied to Bosnian

Nov. 6 (UPI) - The United States on Wednesday blacklisted a front company and its nominal director on accusations they were part of a sanctions evasion network associated with the U.S.-designated president of Republika Srpska and his son.

Those sanctioned were Vladimir Perisic and Elpring d.o.o. Laktasi, where the 47-year-old functions as its general director.

The Treasury accused the company of having been established by President Milorad Dodik of Republika Srpska, one of two entities that make up the Balkan nation of Bosnia and Herzegovina.

Dodik was hit with U.S. sanctions in 2022 for corruptly enriching himself at his people's expense and for his attempts at secession, which the Biden administration says threatens the Dayton Peace Agreement that ended that Bosnian War of 1992-95 and created both the Federation of Bosnia and Herzegovina and Republika Srpska.

Dodik is accused of using his position to direct government contracts to a network of companies that he and his son, U.S. designated Igor Dodik, oversee.

The Biden administration has repeatedly sanctioned entities and individuals that make up this network, including Kaldera Company El PGP d.o.o. in June.

According to the Treasury, Igor Dodik directed Milenko Cicic, who was also blacklisted in June, to establish Elpring as a replacement for Kaldera and oversee the transfer of all of Kaldera's assets and operations to the new company.

State Department press secretary Matthew Miller said this corruption undermines public confidence in Bosnia and Herzegovina state institutions and the rule of law.

"The Dodik network has pursued an aggressive strategy to circumvent U.S sanctions, namely by restructuring and reestablishing corporate entities to obfuscate control and transfer company assets from designated entities," he said in a statement .

"Today's action further exposes Igor Dodik's blatant attempts to evade U.S. sanctions.

The sanctions, which freeze all assets of those named and bar U.S. persons from doing business with them, were issued under an executive order President Joe Biden signed in June 2021, that permits the blacklisting of those "who threaten the peace, security, stability or territorial integrity of any area or state in the Western Balkans."

"RS President Milorad Dodik, his associates and his enablers continue to use their privileged position to erode public confidence in the regional peace frameworks and institutions that have brought stability and security to Bosnia and Herzegovina," Acting Under Secretary of the Treasury for Terrorism and Financial Intelligence Bradley Smith said in a statement .

"The United States remains committed to exposing the efforts of Dodik and his family to maintain their corrupt patronage networks."

The Biden administration issued the sanctions a day after Donald Trump was elected the 47th president of the United States - a feat that Dodik celebrated with projecting an image of the New York real estate mogul on the President of the Republic of Srpska Palace.