Nicaragua bars banks from closing accounts of sanctioned individuals
Nicaragua's parliament on Thursday passed a law forbidding banks from closing accounts of sanctioned individuals, a move that one prominent business group said poses a systemic threat to the country's financial system. The United States has over the past three years sanctioned 27 Nicaraguan politicians or business people with ties to President Daniel Ortega for human rights violations and corruption, including Ortega's wife, Vice President Rosario Murillo. Legislators in Nicaragua's parliament, which is controlled by Ortega, amended the Consumer Defense law with a 74-14 vote in support of the changes that dictate banks are not allowed to shutter accounts of sanctioned Nicaraguans.
