New Executive Order Allows Treasury to Block Nicaraguan Imports
President Joe Biden signed a new executive order expanding the power of the Treasury Department to potentially block imports from Nicaragua. The Oct. 24 Executive Order on Taking Additional Steps to Address the National Emergency With Respect to the Situation in Nicaragua allows the Secretary of the Treasury, in consultation with the Secretaries of State and Commerce to prohibit imports of Nicaragua-origin products from certain sectors.
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The order amends the 2018 Executive Order 13851 by expanding authority to target Nicaraguans operating in the gold sector or other sectors to be identified by the secretaries of treasury and state. The new E.O. also provides expanded sanctions authorities that could be used to prohibit new investment in those sectors, the importation of Nicaraguan products into the U.S., or the exportation of certain items to Nicaragua from the U.S. or by U.S. persons.