Sanctions Hit Nicaraguan Gold Sector

The U.S. Treasury imposed sanctions on five individuals and seven companies in Nicaragua's gold sector, including sons of the country's co-presidents. Treasury Secretary Scott Bessent criticized Nicaragua's leadership for seizing American investments and vowed to target the regime's revenue streams.

The U.S. Treasury Department has taken action against five individuals and seven companies linked to Nicaragua's gold sector, imposing sanctions due to activities undermining American interests. The targeted individuals include two sons of Nicaragua's co-presidents and Vice Minister Santiago Hernan Bermudez Tapia.

According to the Treasury's Office of Foreign Assets Control, these Nicaraguan entities have taken over gold concessions previously managed by sanctioned groups. Treasury Secretary Scott Bessent condemned the Nicaraguan government's tactics, labeling them as attempts to bolster their finances through 'confiscating American investments.'

Bessent further stated that the United States will not tolerate such actions, emphasizing a commitment to targeting revenue streams that empower the regime led by Rosaria Murillo and Daniel Ortega.

(With inputs from agencies.)