Ortega was re-elected to the presidency
in 2007 after two decades out of power. At the time, he was one of many
left-leaning leaders in the region. Venezuela, then led by the socialist leader
Hugo Chávez, immediately began sending billions of dollars worth of cheap
oil—its biggest export and most valuable commodity—to Nicaragua. According to
Nicaraguan economist Adolfo Acevedo, between 2007 and 2016, Venezuela shipped
$3.7 billion in oil to Nicaragua. "Oil diplomacy" was standard
practice in Venezuela at the time. In the early 2000s, Venezuela was one of
Latin America's richest countries. Chávez used his economic brawn to support
allies in Cuba, Argentina, Ecuador, and Brazil by sending them financial aid
and cheap crude. More… 
Wednesday, August 22, 2018
Examining the Embattled Nicaraguan President's Deep Ties With Venezuelan Oil Money
Ortega was re-elected to the presidency
in 2007 after two decades out of power. At the time, he was one of many
left-leaning leaders in the region. Venezuela, then led by the socialist leader
Hugo Chávez, immediately began sending billions of dollars worth of cheap
oil—its biggest export and most valuable commodity—to Nicaragua. According to
Nicaraguan economist Adolfo Acevedo, between 2007 and 2016, Venezuela shipped
$3.7 billion in oil to Nicaragua. "Oil diplomacy" was standard
practice in Venezuela at the time. In the early 2000s, Venezuela was one of
Latin America's richest countries. Chávez used his economic brawn to support
allies in Cuba, Argentina, Ecuador, and Brazil by sending them financial aid
and cheap crude. More… 
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