December 7, 2022

Taylor Daily Press

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US imposes new economic sanctions on Nicaragua, pressure on President Ortega |  Abroad

US imposes new economic sanctions on Nicaragua, pressure on President Ortega | Abroad

US President Joe Biden’s administration today introduced new economic sanctions against the regime of Nicaragua’s authoritarian President Daniel Ortega. The measures are aimed at the Central American country’s vital mining sector.

Biden’s executive order includes the authority to ban U.S. companies from doing business in Nicaragua’s gold mining operations. The US Treasury Department is imposing sanctions on the country’s mining authority and the Ortega trustee, the ministry said in a statement on Monday.

The extended authorization powers may be used to prevent new U.S. investment in certain other sectors in Nicaragua and to import Nicaraguan products or export goods to Nicaragua.

Gold was Nicaragua’s most important export last year, with exports of the precious metal totaling $867 million. 79 percent of that went to the United States, according to data from the country’s central bank.

“Government does not feel bound by the rule of law”

“The Ortega-Murillo regime’s (Rosario Murillo first lady and vice president of Nicaragua, ed.) continued attacks on democratic actors and civil society members and the unjust detention of political prisoners show that the regime believes it is out of control. It depends on the rule of law,” said Treasury Undersecretary Brian Nelson. .
According to Nelson, Washington’s actions are aimed at denying the regime in Nicaragua “the resources it needs to continue to undermine democratic institutions in Nicaragua.”

Tensions

Tensions between the United States and Nicaragua have been high for some time. Last month, the new US ambassador, Hugo Rodriguez, was denied entry into the country. The government in Managua refused Rodriguez entry because of his previous reports about the country. He called Nicaragua a “pariah state in the region” and Ortega a dictator.

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There are also tensions between the European Union and Nicaragua: earlier this year the EU ambassador to Nicaragua was declared non-persona, after which Europe also fired the Nicaraguan ambassador to the EU. Get started this month In addition, the country immediately severed all ties with the Netherlands, following accusations of “repeated meddling, meddling and neo-colonial” behavior. Our country no longer has an embassy in Nicaragua, only one in Managua.