US Sanctions Rwanda Firms Over Alleged DRC Gold Smuggling
The Treasury froze U.S. assets and barred transactions with six Rwandan companies and executives accused of funding M23 through illicit gold sales.
- On Thursday, the U.S. Department of the Treasury's Office of Foreign Assets Control sanctioned Gasabo Gold Refinery LTD, Chairman Jean Malic Kalima, General Manager Bosco Kayobotsi, and four businesses accused of smuggling conflict minerals to fund the Rwanda-backed M23 rebel group.
- This action enforces the Washington Accords for Peace and Prosperity, a framework brokered by President Donald Trump, after the Treasury revealed at least 60 kilograms of gold were plundered from M23-occupied areas in South Kivu and smuggled to the refinery.
- A catastrophic March 2026 mine shaft collapse at the M23-controlled Rubaya coltan mine killed over 200 people, while officials stated the illicit trade enables forced labor and sexual violence within mining communities.
- Under the new measures, all U.S.-based assets belonging to the designated individuals and entities have been frozen, and United States citizens and global financial institutions are prohibited from transacting with them, risking severe penalties.
- "The United States will not allow rogue groups to profit from the illicit mineral trade and destabilize the region," Secretary of the Treasury Scott Bessent said, as the administration remains committed to dismantling supply chains that smuggle minerals through Rwanda to global hubs.
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22 Articles
The US Treasury announced on 25 June 2026 sanctions against a Rwandan mineral network, in connection with the AFC/M23 group. Network accused of illegal trafficking from eastern DRC to Rwanda. "The US will not allow dishonest groups to take advantage of the illegal trade in minerals and destabilize the region," said US Treasury Secretary Scott Bessent. Details.
U.S. Sanctions Rwandan Mining Firms And Gold Refinery To Choke Off Rebel Funding - Tampa Free Press
The United States government has blacklisted a network of mining operations and executives accused of smuggling conflict minerals out of the Democratic Republic of the Congo (DRC) to fund the Rwanda-backed M23 rebel group. The penalties target two individuals and four businesses. Among those named are Gasabo Gold Refinery LTD and its chairman, Jean Malic […] U.S. Sanctions Rwandan Mining Firms And Gold Refinery To Choke Off Rebel Funding
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