Milorad Dodik, who leads the Bosnian Serb region of Republika Srpska, was convicted earlier this year after deciding that Bosnia and Herzegovina's federal police and judiciary would no longer have the right to exercise power in his part of the country.
The internationally wanted president announced on Thursday that "the only solution" to the deadlock is to annul all decisions made by the UN High Representative Christian Schmidt.
"In that case, the Serbian Republic (Republika Srpska) is ready to temporarily freeze the laws recently adopted by the national assembly," he writes on X.
Schmidt has been overseeing the peace agreement that ended the Bosnian War since the late 1990s, when Bosnia and Herzegovina was divided into two self-governing parts.
Dodik has long been in conflict with Schmidt over the central government's powers in the Bosnian Serb region.
The statement comes after French President Emmanuel Macron, Serbian President Aleksandar Vucic, and EU Foreign Minister Kaja Kallas visited Bosnia and Herzegovina together on Wednesday.