24/01/2026
■ Serbia's state-owned defense company Yugoimport-SDPR has filed a lawsuit against Ethiopia at the Belgrade Commercial Court. The company is seeking court approval to enforce recovery of over €225 million (approximately 26.3 billion Serbian dinars) in unpaid debt by seizing and auctioning Ethiopian state-owned movable property located in Belgrade.
□ The debt stems from arms supply contracts signed between 1984 and 1990, covering small arms, ammunition, field equipment, communications systems, and a related credit agreement. Following unsuccessful negotiations, a 2015 ruling by theInternational Court of Arbitration of the International Chamber of Commerce ordered Ethiopia to pay the principal amount plus accrued interest and legal costs. Ethiopia has not voluntarily complied with the award.
》 Yugoimport is now requesting judicial authorization to inventory, value, and sell the relevant Ethiopian assets at two unspecified addresses in the Serbian capital. Details on the specific assets and their estimated value remain undisclosed. Both parties have declined to comment publicly.
》 A court decision is pending. If granted, this would be a rare—if not unprecedented—case in Serbia of enforcing a foreign sovereign debt through the seizure and sale of another state's property on Serbian soil.
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