The European Union and the United States have warned Bosnia and Herzegovina on Wednesday that if it continues to block reforms on the path to the EU, it would be faced with financial sanctions.
Events over the next several days could have far-reaching consequences for the prosperity and security of the country in the next ten years, head of the EU Delegation to Bosnia Lars-Gunnar Wigemark and U.S. Ambassador Maureen Cormack said after their meeting in Sarajevo on Wednesday.
Wigemark and Cormack talked about political blockades in Bosnia and Herzegovina and obstructions in the implementation of previously taken reform obligations.
The ambassadors of the EU and the U.S. warned that Bosnia's chances of receiving EU candidate status were quickly shrinking. Bosnia applied for candidate status in February.
Wigemark and Cormack confirmed that without adjustment and the adoption of a single mechanism for coordination with the European Union, there can be no guarantees that Bosnia will enter a new phase in the process of joining the EU.
The consequences will be even more severe for Bosnia because without it there will be no new investment or international financial assistance, which is the foundation of every future progress, the statement said.
Concrete consequences can be expected already in July, Wigemark and Cormack said, adding that unless the expected reforms were implemented, there would be no new International Monetary Fund deal for Bosnia.