U.S. Imposes Sanctions on Nicaragua's Authoritarian Regime
U.S. Imposes Sanctions on Nicaragua's Authoritarian Regime
"They are chilling potential U.S. investment…by making it toxic to other investors," said AS/COA's Eric Farnsworth to The Wall Street Journal.
President Biden increased the pressure on Nicaragua’s authoritarian regime Monday, sanctioning the country’s gold industry and imposing visa restrictions on more than 500 key supporters of President Daniel Ortega.
The sanctions are the latest round of U.S. moves directed against Mr. Ortega’s government, which has dismantled virtually all political opposition, closed down all critical media and imprisoned scores of political foes, students, journalists, civic leaders and Roman Catholic priests. […]
Eric Farnsworth, the vice president of the Americas Society, a Washington-based think tank, said the U.S. move seeks to punish Mr. Ortega without damaging the overall Nicaraguan economy.
“They are chilling potential U.S. investment in the sector by making it toxic to other investors,” he said.
Mr. Farnsworth said it was unlikely that the latest sanctions would prompt Mr. Ortega to reinstate democracy or free political prisoners in Nicaragua. “He’s proven he is willing to do anything to stay in power,” he said. […]
