OFAC Sanctions Nicaraguan Bank, 2 Officials
The Office of Foreign Assets Control designated a Nicaraguan financial institution and two government officials for undermining Nicaragua’s democracy, OFAC said Oct. 9. The sanctions target Cooperativa De Ahorro Y Credito Caja Rural Nacional RL, a bank that is “not subject to traditional regulatory oversight,” and Nicaraguan Attorney General Ana Julia Guido De Romero and Secretary of the Presidency Paul Herbert Oquist Kelley.
Sign up for a free preview to unlock the rest of this article
Timely, relevant coverage of court proceedings and agency rulings involving tariffs, classification, valuation, origin and antidumping and countervailing duties. Each day, Trade Law Daily subscribers receive a daily headline email, in-depth PDF edition and access to all relevant documents via our trade law source document library and website.
OFAC said the bank provides support for Nicaragua’s Banco Corporativo, which was sanctioned by the U.S last year (see 1904170054). Guido worked with the country’s police to fabricate cases against political prisoners, OFAC said, and Oquist helps spread “disinformation to cover up” the government’s human rights abuses.