OFAC Sanctions Nicaraguan Mining Company, Issues General License
The Office of Foreign Assets Control on June 17 sanctioned Empresa Nicaraguense de Minas (ENIMINAS), Nicaragua’s state-owned mining company, and Ruy Lopez Delgado, the president of its board of directors. OFAC said the government has used ENIMINAS to solidify its control over Nicaragua’s mining sector and enrich government officials.
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The agency also issued new Nicaragua-related General License 3, which authorizes the wind-down of certain transactions with ENIMINAS and any entity it owns by 50% or more through 12:01 a.m. EDT on July 18. New frequently asked question 1069 clarifies the scope of the license.