U.S. President Joe Biden delivers remarks about student debt relief at Delaware State University in Dover, Delaware, U.S., October 21, 2022.
REUTERS/Leah MillisOct 24 (Reuters) - U.S. President Joe Biden's administration ratcheted up economic pressure on Nicaraguan President Daniel Ortega's government on Monday through a series of steps targeting the country's mining, gold and other sectors.
Biden signed an executive order that includes the authority to ban U.S. companies from doing business in Nicaragua's gold industry, while U.S. Treasury Department imposed sanctions the head of Nicaragua's mining authority, along with another top government official, the department said in a statement.
The order's expanded sanctions powers could also be used to block new U.S. investment in certain other sectors in Nicaragua, the importation of certain Nicaraguan products or the exportation of certain items to Nicaragua, it added.
The two sanctions announced on Monday target Nicaragua's General Directorate of Mines, a unit of the Nicaraguan Ministry of Energy and Mines that manages most mining operations in the country, and Reinaldo Gregorio Lenin Cerna Juarez, a close Ortega confidante, Treasury said.