RE:RE:RE:Why only Calibre?bailey2 wrote: Calibre needs to put out a news release asap to calm the waters.......
They need to fully understand the implications before they issue a press release. This will involve lawyers and such and probably some consultation with the Treasury Department. A fluff press release doesn't do any good IMO. I'm not an authority on this type of thing, but referring to the below link and quote, "US persons" is key. The only part of Calibre that qualifies as a US person is it's US subsidiaries which would have no interaction with the sanctioned Nicaraguan entities. This is more about stopping US entities from transacting with sanctioned entities and freezing US person owned assets where the sanctioned entities own interest. Calibres Nicaraguan subsidiaries aren't owned in any way by the sanctioned entities (based on the 100% company ownership statements of it's subsidiaries) and the fact that the Nicaraguan entities will pay royalties to sanctioned entities is irrelevant as they aren't US persons and not subject to the regulations. https://home.treasury.gov/policy-issues/financial-sanctions/faqs/topic/2581 1093. What does Nicaragua General License (GL) 4 authorize? Nicaragua GL 4 authorizes U.S. persons to engage in transactions prohibited by the Nicaragua Sanctions Regulations, 31 CFR part 582 (the NSR), that are ordinarily incident and necessary to the wind down of any transaction involving the Directorate General of Mines (DGM) of the Nicaraguan Ministry of Energy and Mines, or any entity in which DGM owns, directly or indirectly, a 50 percent or greater interest (collectively, Blocked DGM Entities), through 12:01 a.m. eastern standard time, November 23, 2022, provided that any payment to a blocked person must be made into a blocked account in accordance with the NSR. After the expiration of this authorization, unless exempt or authorized by the Office of Foreign Assets Control, U.S. persons will be prohibited from engaging in transactions with the Blocked DGM Entities and must block property or interests in property of any Blocked DGM Entities that are in, or thereafter come within, the United States, or the possession or control of a U.S. person. Non-U.S. persons generally do not risk exposure to U.S. blocking sanctions under the NSR for engaging in transactions with blocked persons where those transactions would not require a specific license if engaged in by a U.S. person. Released on October 24, 2022