Simplify the following text for a Grade 13 native English-speaking person.
Original: In 1992 , the two remaining states still committed to a union , Serbia and Montenegro , formed the Federal Republic of Yugoslavia , which had not been recognized as the successor of the SFRY by international leaders .
Simplified: By 1992 , only the republics of Serbia and Montenegro remained committed to union , and formed the Federal Republic of Yugoslavia ( FRY ) in 1992 .