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Nicaragua grabs control of gasoline retail chain of the Ortegas

Monday, December 16, 2019

Nicaragua’s National Assembly on Saturday approved nationalizing a major gasoline retailer two days after the United States imposed sanctions on it for allegedly being used by President Daniel Ortega’s family to finance and launder money for the government.

The company, Distribuidor Nicaraguense de Petroleo (DNP), controls a third of the country’s gasoline sales. The U.S. Treasury Department says it is owned or controlled by Ortega family members, and was bought with public money before being transferred to the family, Reuters reports.