On November 15, 2021, the US Treasury Department’s Office of Foreign Assets Control (OFAC) designated the Public Ministry of Nicaragua and nine Nicaraguan government officials as Specially Designated Nationals (SDNs) pursuant to Executive Order (EO) 13851 and the Nicaragua Human Rights and Anticorruption Act of 2018 (NHRAA). According to a Treasury Department press release, the designations respond to the Nicaraguan government’s repression of opposition politicians leading up to “sham” elections in November 2021.

Among the designated persons is a senior banking regulatory official in Nicaragua, which underscores the risk to financial institutions in particular seeking to navigate US sanctions risks while operating in Nicaragua.


Continue Reading OFAC Designates Nicaraguan Officials after “Sham Elections”