Benjamin Hutten extensively quoted in Capitol Forum article, “New Fortress Energy: Nicaraguan government nationalizes counterparties to company’s largest growth project, providing both clarity and increased risk”
Capitol ForumBenjamin W. Hutten
Benjamin Hutten was extensively quoted on December 23, 2020, in a Capitol Forum article, “New Fortress Energy: Nicaraguan government nationalizes counterparties to company’s largest growth project, providing both clarity and increased risk,” which reported that Nicaraguan President Daniel Ortega asked the General Assembly to nationalize Disnorte-Dissur, the country’s dual electric power distribution companies. While the impetus behind the sudden move is not clear, many feel Ortega fast-tracked the change in ownership as a way of avoiding international sanctions.
Hutten noted, “The development of Disnorte-Dissur being nationalized adds some certainty that present dealings with the entities are not at the outset prohibited for U.S. persons. With that being said, there is uncertainty about the future scope of Nicaragua sanctions. Given that the Nicaragua sanctions focus on human rights violations and corruption by the Nicaragua government, I wouldn’t be surprised if further human rights incidents lead a Biden administration to impose further sanctions. These could take the form of targeting a new set of specified government persons, or, if Venezuela is the model, they could take the form of targeting the entire Nicaraguan government.”