US Sanctions Nicaraguan Officials and Gold Sector Entities for Asset Seizure
The U.S. Treasury Department has imposed sanctions on five individuals and seven companies operating in Nicaragua's gold sector, citing their involvement in the alleged confiscation of American-owned assets. The targeted individuals include two sons of Nicaraguan co-presidents Daniel Ortega and Rosario Murillo, as well as Santiago Hernan Bermudez Tapia, the vice minister of energy and mines. The sanctions stem from the 2025 forcible seizure of BHMB Mining Nicaragua S.A., a company with U.S. investment. Treasury Secretary Scott Bessent stated that the Murillo-Ortega regime used these actions to fill its coffers and maintain political control through illicit revenue streams. Additional sanctioned entities include Zhong Fu, Santa Rita Mining Co., Exportadora de Metales Sociedad Anonima, and Grupo Minero Xiloa S.A., which are accused of funneling profits to regime insiders and financing government-linked paramilitary groups. This move continues Washington's long-standing pressure on Managua following the 2018 crackdown on protests, with the UN previously accusing Ortega's government of serious human rights violations. The U.S. aims to disrupt the financial networks empowering the current administration.
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US Sanctions Nicaraguan Officials and Gold Sector Entities for Asset Seizure
The U.S. Treasury Department has imposed sanctions on five individuals and seven companies operating in Nicaragua's gold sector, citing their involvement in the alleged confiscation of American-owned assets. The targeted individuals include two sons of Nicaraguan co-presidents Daniel Ortega and Rosario Murillo, as well as Santiago Hernan Bermudez Tapia, the vice minister of energy and mines. The sanctions stem from the 2025 forcible seizure of BHMB Mining Nicaragua S.A., a company with U.S. investment. Treasury Secretary Scott Bessent stated that the Murillo-Ortega regime used these actions to fill its coffers and maintain political control through illicit revenue streams. Additional sanctioned entities include Zhong Fu, Santa Rita Mining Co., Exportadora de Metales Sociedad Anonima, and Grupo Minero Xiloa S.A., which are accused of funneling profits to regime insiders and financing government-linked paramilitary groups. This move continues Washington's long-standing pressure on Managua following the 2018 crackdown on protests, with the UN previously accusing Ortega's government of serious human rights violations. The U.S. aims to disrupt the financial networks empowering the current administration.
The Straits Times World News