How Sanctions Hit a Small Mining Town

Jeff Stein on the impact of sanctions in a small Guatemalan town. The small Guatemalan town of El Estor was once a bustling mining hub, home to two major nickel mines that provided thousands of jobs and sustained the local government. In 2022, U.S. sanctions shuttered those mines almost overnight, triggering massive job losses, starving the town of public revenues, and collapsing small businesses. Families that had worked their way into the middle class were suddenly plunged into poverty, and many residents—facing few options—were forced to emigrate, setting out on the dangerous journey north to the United States.Jeff Stein is the Washington Post’s chief economics correspondent. As part of a remarkable series of investigative stories called “The Money War,” Jeff reported from El Estor, bearing witness to the ways in which sanctions policies set in Washington can change the fortunes of communities thousands of miles away.The Sanctions Age is hosted by Esfandyar Batmanghelidj and Josefine Petrick.To receive an email when new episodes are released, access episode transcripts, and read the hosts reflections on each episode, sign-up for the The Sanctions Age newsletter on Substack: https://www.thesanctionsage.com/