Nicaragua Takes a Stand: New Law Challenges Foreign Sanctions

Nicaragua's parliament has passed a law nullifying the impact of foreign sanctions on President Daniel Ortega, his vice president and wife Rosario Murillo, their children, and 50 officials. The law requires local entities to ignore overseas sanctions, aiming to protect national sovereignty despite potential economic ramifications.

In a bold legislative move, Nicaragua's parliament approved a law on Monday designed to neutralize foreign sanctions targeting President Daniel Ortega, his wife and vice president Rosario Murillo, and numerous top state officials. Despite its domestic reach, the law cannot mitigate international sanctions.

Driven by the pro-government Sandinista Front, the 91 deputies in parliament passed the law, which had been introduced by Ortega just the week before. According to Walmaro Gutierrez, a sanctioned member of Ortega's party, the law reinforces Nicaragua's sovereignty and independence.

The 'law to protect Nicaraguans from foreign sanctions and aggressions' deems such measures as null, forbidding suspension of goods or services to sanctioned figures. Critics warn banks must choose between risking international ties or facing penalties at home.

(With inputs from agencies.)