Nicaragua Defies Foreign Sanctions: New Law Sparks Controversy

Nicaragua's parliament has passed a controversial law to nullify foreign sanctions against President Ortega's family and high-ranking officials. The legislation attempts to limit the impact of these sanctions domestically by compelling local banks and institutions to disregard them, despite its inability to affect sanctions abroad.

Nicaragua's parliament has made a bold move by approving legislation to nullify foreign sanctions targeting President Daniel Ortega's vice president and wife, Rosario Murillo, alongside several of their children and 50 high-ranking officials.

While the new law cannot mitigate the impact of sanctions outside Nicaragua, it aims to neutralize their effects within the country by instructing local banks and institutions to ignore such restrictions.

This development comes as part of a broader effort by the Nicaraguan government to bolster its domestic financial operations amid growing international pressure.

(With inputs from agencies.)