The deputies of the National Assembly serving the Ortega-Murillo dictatorship approved this Monday, November 25, the Law for the Protection of Nicaraguans from Sanctions and Aggressions, known only as the Sanctioned Law, which endangers the national private banking.
With a unanimous vote, that is, also with the favorable vote of the stilt deputies, the Sandinistas will approve the new legislative norm with which the regime seeks to protect all its political operators, among whom are several of its figureheads, so that the sanctions that the international community has applied to them, are not assumed by national banking institutions.
In his justification for putting this new regulation into effect, the political operator of the dictators Gustavo Porras, who serves as president of the Sandinista National Assembly and is also one of those sanctioned, insisted this Monday that the Law approved by them, “protects Nicaraguans and their institutions against sanctions and attacks carried out by States or groups of States, Governments or foreign organizations, which threaten and endanger the sovereignty, security, development plans of Nicaragua and “harm finances and free foreign and domestic trade.”
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The regulations, which will come into force once they are published in La Gaceta, Official Gazette, something that could happen this week, forces the national bank not to comply with international sanctions against Nicaraguan citizens, that is, more than 50 political operators. of the dictatorship and at least a dozen institutions, including government and private companies, linked to the financial power of the Sandinista National Liberation Front (FSLN) party.
In essence, after the entry into force of the Law, all financial institutions in Nicaragua must reopen bank accounts and reactivate frozen funds, if any, to all officials of the regime who have been sanctioned by the US, Canada and the European Union.
The bank that does not proceed in accordance with what is established by the new Law of the dictatorship is exposed to temporary or permanent closures, or even its directors or owners are exposed to being imprisoned under accusations of treason to the country, as mandated by the same regulations.
The problem is that with this new law, Daniel Ortega puts the national bank between a rock and a hard place, because if the new Sanctioned Law is not implemented, he risks closures and jail, but if he complies with this extortionate measure of the dictatorship, is also on the brink of the abyss, because its future now depends on whether the United States banks with which local financial institutions have correspondents, which help them move money to any part of the world.
If in the end the North American banks decide to block Nicaraguan banks to avoid fines from the United States Department of the Treasury or the Office of Foreign Assets Control (OFAC), the banking institutions of Managua would be isolated and without the possibility of operating anymore. beyond the borders, including being unable to receive remittances and transfers from other countries, which will also isolate commercial companies.
