On October 24, 2022, U.S. President Joe Biden signed a broad executive order (E.O.) authorizing additional steps against Nicaragua “with respect to the national emergency declared in Executive Order 13851.” The E.O. expands the U.S. Department of the Treasury’s authority to “target certain persons that operate or have operated in the gold sector of the Nicaraguan economy, and any other sector identified by the Secretary of the Treasury in consultation with the Secretary of State. The new E.O. also provides expanded sanctions authorities that could be used to prohibit new U.S. investment in certain identified sectors in Nicaragua, the importation of certain products of Nicaraguan origin into the United States, or the exportation, from the United States, or by a United States person, wherever located, of certain items to Nicaragua.”
The Office of Foreign Assets Control (OFAC) issued a press release announcing the addition of two Nicaraguan parties to the Specially Designated Nationals and Blocked Persons List (SDN List). U.S. persons are generally prohibited from transacting business with parties on the SDN List.
The October 24, 2022 E.O. is available at the link here:
https://home.treasury.gov/system/files/126/nicaragua_eo_20221024.pdf
The OFAC press release can be found at the link here:
https://home.treasury.gov/news/press-releases/jy1046
E.O 13851 is available at the link here:
