OFAC issued new regulations implementing Executive Order 13851 ("Blocking Property of Certain Persons Contributing to the Situation in Nicaragua"). OFAC stated its intention to supplement the regulations which may include guidance, general licenses and statements of licensing policy.
As previously covered, President Donald J. Trump signed Executive Order 13851 following Nicaragua's violent response to protests that began on April 18, 2018. The Executive Order referenced the Nicaraguan government's "dismantling . . . [of] the rule of law, its use of indiscriminate violence and repressive tactics against civilians, as well as its corruption leading to the destabilization of Nicaragua's economy."
The new rules are effective as of their publication in the Federal Register on September 4, 2019.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.