Partizan Belgrade have been given a one-year ban from European football because of unpaid debts, UEFA said on Wednesday.
"Partizan will be excluded from participating in the next UEFA club competition for which it would otherwise qualify during the next three seasons," European soccer's governing body said on its website.
UEFA said that Partizan had overdue payables with other clubs, employees and local social security and tax authorities, which is in breach of European club competition licensing regulations.
The club could not immediately be reached for comment.
Last week, the international players' union FIFPro advised its members not to play for clubs in Serbia.
FIFPro said that, in addition to existing problems over late payment of wages, players faced "even less chance of receiving fair treatment" after changes to the arbitration panel which rules on disputes between them and clubs.
A FIFPro report in November into the working conditions of players around the world found that 68 percent of those in Serbia had experienced late payment of wages at some point in the past two years, compared to a global figure of 41 percent.
Around 250 players in Serbia have gone to arbitration in the last two years, according to the local players' union Nezavisnost.