OFAC issues “Nicaragua Sanctions Regulations”

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has issued Nicaragua Sanctions Regulations, 31 CFR part 582 (the “Regulations”). The Regulations, effective 4 September 2019, implement Executive Order 13851 of 27 November 2018, entitled “Blocking Property of Certain Persons Contributing to the Situation in Nicaragua”. OFAC intends to supplement the Regulations with additional guidance, general licenses and licensing policy statements to create a “more comprehensive set of regulations”.