US sanctions Nicaraguan gold mining firm over ties to Russia

Jun 17, 2022, 9:57 AM | Updated: 10:15 am
FILE - Nicaragua's President Daniel Ortega, right, and Russian President Vladimir Putin, left, atte...

FILE - Nicaragua's President Daniel Ortega, right, and Russian President Vladimir Putin, left, attend a welcome ceremony at an airport in Managua, Nicaragua, July 11, 2014. The U.S. imposed sanctions Friday on Nicaragua's state-owned gold mining company, Empresa Nicaraguense de Minas, also known as ENIMINAS, along with the president of the firm's board of directors. The sanctions are imposed, in part, 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," according to the Treasury Department. (AP Photo/RIA-Novosti, Alexei Nikolsky, Presidential Press Service, File)

(AP Photo/RIA-Novosti, Alexei Nikolsky, Presidential Press Service, File)

WASHINGTON (AP) — The U.S. imposed sanctions Friday on Nicaragua’s state-owned gold mining company and the president of its board of directors in part over the Central American nation’s ties to Russia.

The sanctions were imposed against the Nicaraguan Mining Co., known by the Spanish-language 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.

The actions are authorized under an existing executive order that targets the violent response by the Nicaraguan government 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 imposed during Donald Trump’s presidency.

“High-ranking members of the Ortega-Murillo regime have benefitted greatly from Nicaragua’s increase in gold exports in recent years, due in large part to the outsized role ENIMINAS has played in funneling profits to private sector partners and kickbacks to regime insiders,” Treasury said in a statement, referencing Ortega’s wife and vice president, Rosario Murillo.

The Treasury Department’s Office of Foreign Assets Control said Friday’s sanctions stemmed from the threats that the company, known in Spanish as Empresa Nicaraguense de Minas, and its leadership pose “to the security of the hemisphere.”

The sanctions mean that all property and interests in property that the firm and the president of its board of directors have that the U.S. has jurisdiction over, or are in possession by Americans, are blocked.

The U.S. government also issued a general license that would allow Americans doing business with the company to wind down their transactions with it by July 18. In 2021, gold exports from Nicaragua to the United States increased by 30%, totaling more than $744 million, according to U.S. figures.

Sanctions involving the gold trade were also imposed on Russia earlier this year, as the mineral can be swapped for a more liquid foreign exchange that is not subject to current sanctions.

In March, the U.S. and its allies moved to block financial transactions with Russia’s Central Bank that involve gold, aiming to further restrict the country’s ability to use its international reserves because of President Vladimir Putin’s invasion of Ukraine.

Putin has been building his gold stockpile since 2014.

Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

AP

Associated Press

EU’s executive arm proposes ban on flavored vaping products

BRUSSELS (AP) — The European Union’s executive branch has proposed a ban on the sale of flavored heated tobacco products such as vaping items as part of its plan to fight cancer. The European Commission said in a statement Wednesday that its proposal comes in response to a significant increase in the volume of such […]
4 hours ago
This photo provided by Audi shows the 2022 Audi, a large electric luxury sedan with an EPA-estimate...
Associated Press

Edmunds compares: Audi e-tron GT vs. Mercedes-Benz EQS

The electric vehicle market is rapidly changing. Two recently released models are blazing the trail for a brand-new segment: the electric luxury sedan class. Those two cars are the 2022 Mercedes-Benz EQS and the 2022 Audi e-tron GT. Both offer flagship levels of luxury, but they differ greatly in their execution. The car experts at […]
4 hours ago
FILE - People look on from the super yacht Amadea as it arrives to the San Diego Bay Monday, June 2...
Associated Press

$30B from Russian oligarchs frozen under REPO seizure effort

WASHINGTON (AP) — A multinational task force designed to seize Russian oligarchs’ wealth has blocked and frozen $30 billion in sanctioned individuals’ property and funds in its first 100 days in operation, the Treasury Department reported Wednesday. That’s on top of the yachts, other vessels and luxury real estate that have been impounded as well […]
4 hours ago
Dutch farmers protesting against the government’s plans to reduce emissions of nitrogen oxide and...
Associated Press

Dutch PM condemns farmers’ protests at minister’s home

THE HAGUE, Netherlands (AP) — The Dutch prime minister condemned Wednesday a violent protest by farmers outside the home of the country’s agriculture minister amid increasingly bold demonstrations against the government’s plans to rein in pollution. A small group of farmers clashed Tuesday night with police stationed outside the home of Christianne van der Wal, […]
4 hours ago
FILE - Dr. Paolo Macchiarini attends a press conference announcing what he called the successful tr...
Associated Press

Italian surgeon gets his sentence appealed in Sweden case

COPENHAGEN, Denmark (AP) — Swedish prosecutors on Wednesday appealed a sentence given to an Italian surgeon who was put on trial for causing bodily harm during experimental stem-cell windpipe transplants on three patients who died. Stem-cell scientist Dr. Paolo Macchiarini made headlines in 2011 for carrying out the world’s first stem-cell windpipe transplants at Sweden’s […]
4 hours ago
FILE - Dr. Paolo Macchiarini attends a press conference announcing what he called the successful tr...
Sponsored Content by

COPENHAGEN, Denmark (AP) — Swedish prosecutors on Wednesday appealed a sentence given to an Italian surgeon who was put on trial for causing bodily harm during experimental stem-cell windpipe transplants on three patients who died. Stem-cell scientist Dr. Paolo Macchiarini made headlines in 2011 for carrying out the world’s first stem-cell windpipe transplants at Sweden’s […]

Sponsored Articles

(Courtesy Condor)...
Condor Airlines

Condor Airlines shows passion for destinations from Sky Harbor with new-look aircraft

Condor Airlines brings passion to each flight and connects people to their dream destinations throughout the world.
...
Carla Berg, MHS, Deputy Director, Public Health Services, Arizona Department of Health Services

Vaccines are safe if you are pregnant or breastfeeding

Are you pregnant? Do you have a friend or loved one who’s expecting?
...
CANVAS ANNUITY

Best retirement savings rates hit 4.30%

Maximize your retirement savings with guaranteed fixed rates up to 4.30%. Did you know there is a financial product that can give you great interest rates as you build your retirement savings and provide you with a paycheck for life once you retire? It might sound too good to be true but it is not; this product is called an annuity.
US sanctions Nicaraguan gold mining firm over ties to Russia