Sunday 26 January 2020
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wn.com - 1 month ago

Nicaragua nationalizes fuel firm 2 days after US sanctions

{{featured_button_text}} MANAGUA, Nicaragua (AP) — Nicaragua nationalized the fuel distribution company DNP on Saturday, two days after U.S. authorities sanctioned the firm for allegedly being used by President Daniel Ortega’s family for personal enrichment through non-competitive contracts with government institutions. The bill was fast-tracked and approved by a parliament dominated by Ortega allies and took effect minutes later with its publication in the official Gazette. It declares the fuel and other assets of the company, formally known as Empresa Distribuidora de Petroleo, a matter of “citizen security and...


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