Nicaragua Sanctions
Nicaragua has been the subject of international sanctions, particularly from the United States, due to significant concerns over human rights abuses, corruption, and the erosion of democratic principles under the regime of President Daniel Ortega and Vice President Rosario Murillo. The measures include asset freezes, travel bans, and restrictions on financial transactions, targeting key individuals and entities associated with the Ortega-Murillo administration.
Our team of skilled OFAC sanctions attorneys is dedicated to providing expert legal assistance to those affected by sanctions against Nicaragua, helping clients navigate the complexities of compliance and seek relief from sanctions.
Why were Sanctions Imposed on Nicaragua?
Sanctions against Nicaragua have been implemented by the United States and other international actors in response to significant political repression and human rights abuses under the authoritarian rule of President Daniel Ortega and Vice President Rosario Murillo.
The United States first imposed an embargo on Nicaragua in 1985 under President Ronald Reagan. This embargo prohibited all trade between the two countries and was intended to pressure Nicaragua to halt its military ties with Cuba and the Soviet Union, cease its arms buildup, and adhere to democratic principles. Although this embargo was lifted in 1990, the U.S. reimposed sanctions in 2018 in response to the Nicaraguan government’s violent crackdown on anti-government protests and its suppression of political opposition.
In late 2018, the U.S. imposed financial sanctions on Nicaragua’s Vice President Rosario Murillo, President Daniel Ortega, and Nicaragua’s Bank Corp pursuant to Executive Order 13851. The United States claims that the Ortega government is corrupt, and human rights and anti-democratic activities in Nicaragua have resulted in a crisis. The US sanctions Nicaragua included asset freezes and travel bans on individuals complicit in the Nicaraguan government’s actions against protestors and democratic institutions.
Specific Targets of Sanctions
OFAC Nicaragua Sanctions have specifically targeted high-ranking officials and entities associated with the Ortega-Murillo regime. For instance:
- Banco Corporativo SA: U.S. persons are prohibited from engaging in any transactions with Banco Corporativo SA as well as any entity owned 50 percent or more by this bank;
- Vice President Rosario Murillo: the same restrictions apply to transactions with Vice President Murillo and any entities that she has 50 percent or more ownership of in Nicaragua or abroad;
- Training Center of the Russian Ministry of Internal Affairs in Managua: this entity has been sanctioned for its role in training Nicaraguan security forces in methods of repression;
- Compania Minera Internacional, Sociedad Anónima (COMINTSA) and Capital Mining Investment Nicaragua, Sociedad Anónima (Capital Mining): these government-affiliated gold companies have been targeted to disrupt the regime’s revenue streams from gold exports.
Sanctions Against Specific Person
OFAC Sanctions placed on specific individuals, often referred to as designating or placing someone on the Specially Designated Nationals (SDN) list, mean that U.S. persons and entities are prohibited from engaging in transactions involving both goods and services with the designated person or entity. These prohibitions are comprehensive, with few exceptions, typically outlined in general licenses within the regulation used to designate the person or entity.
Our team of experienced OFAC sanctions attorneys specializes in navigating the complex landscape of US sanctions against Nicaragua. Our lawyers are well-equipped to assist individuals and entities to get delisted from the Specially Designated Nationals (SDN) list.
OFAC Sanctions Attorney
Dealing with the OFAC sanctions Nicaragua, requires specialized legal knowledge. Our team of experienced OFAC sanctions attorneys is committed to providing thorough legal assistance to individuals and entities impacted by these sanctions.
We offer a variety of services designed to address the specific challenges posed by OFAC sanctions:
OFAC representation: our attorneys are skilled in handling cases related to US sanctions against Nicaragua, including those involving prominent figures and entities listed under the Specially Designated Nationals (SDN) list.
OFAC license applications: we help clients obtain the necessary licenses from OFAC to conduct otherwise restricted transactions. This includes preparing and submitting applications for general and specific licenses, ensuring full compliance with OFAC requirements.
Sanctions removal: our team works tirelessly to assist clients in seeking removal from the SDN list. We prepare and submit detailed petitions for reconsideration, using our deep understanding of OFAC regulations and procedures to effectively advocate on your behalf.
If you or your business is affected by OFAC sanctions Nicaragua, do not face this challenging situation alone. Contact our expert OFAC sanctions attorneys today to discuss your case and explore how we can assist you. Let us protect your interests today.
