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PrintAugust 23, 2007
Nicaragua embargoes American assets
A judge in Nicaragua has embargoed assets of Exxon in a tax dispute. Reuters reports:
A Nicaraguan judge has embargoed assets of U.S. oil company Esso Standard Oil in a tax payment dispute between the government of leftist President Daniel Ortega and the unit of giant ExxonMobil Corp. [....]"For the first time, the (Nicaraguan) state is asking the big companies to account for themselves," said Ortega aide Bayardo Arce.
This is the first concrete action Ortega has taken against American interests in Nicaragua. It has at least the form of a judicial order and involves a tax dispute. Call me suspicious, but I bet this is a harbinger of more to come.
