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Serbia and Montenegro, officially known as the State Union of Serbia and Montenegro was a country in Southeast Europe located in the Balkans that existed from 1992 to 2006, following the breakup of the Socialist Federal Republic of Yugoslavia which bordered Hungary to the north, Romania to the northeast, Bulgaria to the southeast, Macedonia to the south, Croatia and Bosnia and Herzegovina to the west, and Albania to the southwest. The state was founded on 27 April 1992 as the Federal Republic of Yugoslavia, known as FR Yugoslavia or simply Yugoslavia which comprised the Republic of Serbia and the Republic of Montenegro. In February 2003, FR Yugoslavia was transformed from a federal republic to a political union until Montenegro seceded from the union in 2006, leading to the full independence of both Serbia and Montenegro.