US imposes sanctions on Nicaraguan mining company over its ties to Russia

The U.S. on Friday imposed sanctions on Nicaragua's state-owned gold mining company and the chairman of its board of directors over the Central American nation's ties to Russia, AP reported.

The sanctions were imposed on the Nicaraguan mining company, known by its Spanish acronym ENIMINAS, partly because the country’s leaders are “deepening their relationship with Russia as it wages war against Ukraine, while using gold revenue to continue to oppress the people of Nicaragua,” the Treasury Department said.

These actions are authorized under the current executive order, which targets the Nicaraguan government's violent response to civil protests that began in April 2018, as well as the Daniel Ortega regime's use of violence against civilians and destabilization of Nicaragua's economy.

The executive order was introduced during Donald Trump's presidency.

The sanctions mean that all property and ownership interests held by the company and its chairman that are under U.S. jurisdiction or held by Americans are blocked.

The U.S. government has also issued a general license that will allow Americans who do business with the company to wind down their transactions with it by 18 July. Gold exports from Nicaragua to the U.S. increased 30 percent in 2021, totaling more than $744 million, according to U.S. data.