Nicaragua legislature approves plans to nationalize gas station chain

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Nicaragua legislature approves plans to nationalize gas station chain
Nicaragua legislature approves plans to nationalize gas station chain

The Nicaraguan National Assembly approved the plans to nationalize the gas station chain Distribuidor Nicaraguense de Petroleo (DNP) on Saturday.

President Daniel Ortega sent the initiative as a matter of emergency. The law guarantees the continued supply of fuel and petroleum products. Additionally, all petroleum products owned by DNP are classified as sovereign security and of national interest.

This decision comes just days after the US government sanctioned the company due to allegations that the DNP is used for money laundering by Ortega’s family. Prior to the sanctions, US President Donald Trump issued sanctions against Nicaragua nationals due to protests that began in April.

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