Expands sanctions on Nicaragua, targeting the gold sector.
24 Oct 2022
On 24 October 2022, the President of the United States signed Executive Order 14088, “Taking Additional Steps to Address the National Emergency With Respect to the Situation in Nicaragua”, amending E.O. 13851.
The new executive order substantially expands the Nicaragua sanctions program and specifically targets the gold sector but also any other sector "identified at a later date". In that regard, it prohibits new US investment in these identified sectors in Nicaragua, the import of certain Nicaraguan products into the US or the export from the US or by a US person of certain goods to Nicaragua.
The new executive order aims "to demonstrate our commitment to the Nicaraguan people by expanding the tools to hold the Ortega-Murillo regime accountable for its escalating human rights violations, continued dismantling of democratic institutions, attacks on civil society, and increasing security cooperation with Russia." (The White house).
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Type:
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Entry and establishment (Other)
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Industry:
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Primary (Mining and quarrying)
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Sources:
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Home.treasury.gov, Executive Order 14088 of October 24, 2022 Taking Additional Steps To Address the National Emergency With Respect to the Situation in Nicaragua, https://home.treasury.gov/system/files/126/14088.pdf, 26 Oct 2022
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The White house, FACT SHEET: Biden-Harris Administration Expands Efforts to Hold Nicaraguan Government Accountable, https://www.whitehouse.gov/briefing-room/statements-releases/2022/10/24/fact-sheet-biden-harris-administration-expands-efforts-to-hold-nicaraguan-government-accountable/, 24 Oct 2022
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Mondaq, United States: US Government Imposes New Sanctions And Visa Restrictions On Nicaragua, https://www.mondaq.com/unitedstates/export-controls-trade-investment-sanctions/1248856/us-government-imposes-new-sanctions-and-visa-restrictions-on-nicaragua?email_access=on, 09 Nov 2022
