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Ortega Snubs US, Seals Iran Trade Pact

US wary of Iranian toehold in Latin American 'backyard'

By Sam Biddle,  Newser Staff

Posted Aug 6, 2007 4:19 AM CDT
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(Newser) – Nicaragua has finalized a trade deal with Iran worth hundreds of millions of dollars despite bitter opposition from Washington, the Guardian reports. The deal will exchange Nicaraguan  bananas, coffee and meat for farm equipment and Iranian funds for infrastructure projects, including a hydroelectric dam, milk-processing plants, housing and a health clinic.

The agreement came only a week after the US ambassador to Nicaragua bluntly warned that "Iran can be a dangerous partner." President Daniel Ortega needs the investment  to address the prolonged poverty and unemployment that has plagued his tenure and made voters restive; he recently strengthened ties to Cuba, North Korea, Algeria and Libya as well.

Nicaragua's President Daniel Ortega
Nicaragua's President Daniel Ortega   (Getty Images)
Iranian President Mahmoud Ahmadinejad
Iranian President Mahmoud Ahmadinejad   (Associated Press)
Nicaragua's President Daniel Ortega.
Nicaragua's President Daniel Ortega.   (Associated Press)
Iran's Energy Minister Hamid Chitchian, center, talks to Nicaragua's President Daniel Ortega, right, during a meeting in Managua, Saturday, Aug. 4, 2007. Iran is to help build several hydroelectric plants and a port on the country's Caribbean coast. Iranian diplomat Esmaeil Cour is at the left.(AP Photo/Ariel Leon)
Iran's Energy Minister Hamid Chitchian, center, talks to Nicaragua's President Daniel Ortega, right, during a meeting in Managua, Saturday, Aug. 4, 2007. Iran is to help build several hydroelectric plants...   (Associated Press)
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Iran • North Korea • Algeria • Cuba • Libya • trade • Nicaragua • Daniel Ortega • allies

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