S. 1041 would require the Department of State to assess and report to the Congress on efforts to use targeted sanctions and diplomacy to promote free, fair, and transparent elections in Nicaragua, and to coordinate the department’s efforts with U.S. allies. The bill also would require the department to report to the Congress on several related issues, including cooperation between Nicaragua and Russia on military, intelligence, and other matters. Finally, S. 1041 would require the Department of the Treasury to increase its scrutiny of assistance provided to Nicaragua by international financial institutions and to report to the Congress on its actions.
On the basis of information about the costs to prepare similar reports, CBO estimates that satisfying those various reporting requirements would cost less than $500,000 each year and total $1 million over the 2021-2026 period. Such spending would be subject to the availability of appropriated funds.
The bill would require the President to evaluate whether to impose sanctions on foreign persons who may be engaging in corruption or undermining democracy in Nicaragua. It also would require the Department of State to assess whether Nicaragua has made significant purchases of Russian equipment, infrastructure, or technology for its military or intelligence sector, and to impose sanctions if it did.
