Nicaragua Enacts Blocking Statute Countering U.S. Sanctions

On November 25, 2024, the Nicaraguan government enacted the “Ley de Protección de los Nicaragüenses ante Sanciones y Agresiones Externas” (Law for the Protection of Nicaraguans Against Sanctions and External Aggressions). This new legislation is effectively a blocking statute that attempts to invalidate the enforcement of foreign sanctions within Nicaraguan territory, such as those imposed by the United States.