https://sputniknews.in/20260626/us-sanctions-rwanda-gold-refinery-over-alleged-drc-smuggling-ties-11414261.html
US Sanctions Rwanda Gold Refinery Over Alleged DRC Smuggling Ties
US Sanctions Rwanda Gold Refinery Over Alleged DRC Smuggling Ties
Sputnik India
The US Department of Treasury has imposed sanctions on a Rwandan gold refinery for allegedly assisting the Kigali-backed March 23 Movement (M23) to illegally... 26.06.2026, Sputnik India
2026-06-26T20:33+0530
2026-06-26T20:33+0530
2026-06-26T20:33+0530
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The Gasabo Gold Refinery LTD, otherwise known as "Gasabo Gold" acted as a "key partner" to both Rwandan government officials and the M23 paramilitary group to source and illegally move the Congolese gold from the country's east.In December 2025, US President Donald Trump signed the so-called Washington Accords with Democratic Republic of the Congo (DRC) President Felix Tshisekedi and Rwandan President Paul Kagame to formalize a peace deal between the two nations.Nevertheless, the M23 paramilitary group, backed by Rwanda, intensified its offensive in South Kivu province in the eastern DRC in the past few days, and entered the city of Uvira.The M23 was formed in 2012 by Congolese Tutsis. In late January 2025, M23 launched a large-scale offensive, escalating the conflict in the eastern DRC. Between January and February, rebels seized Goma and Bukavu, the provincial capitals of North and South Kivu. From March to July last year, hostilities intensified, triggering mass displacement and worsening a food crisis in the region.
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US Sanctions Rwanda Gold Refinery Over Alleged DRC Smuggling Ties
The US Department of Treasury has imposed sanctions on a Rwandan gold refinery for allegedly assisting the Kigali-backed March 23 Movement (M23) to illegally smuggle minerals out of the Democratic Republic of the Congo, the Office of Foreign Assets Control (OFAC) said.
"Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) imposed sanctions on a network working in coordination with the Rwandan-backed March 23 Movement (M23) to illegally smuggle minerals from eastern Democratic Republic of the Congo (DRC) to Rwanda," OFAC said on Thursday.
The Gasabo Gold Refinery LTD, otherwise known as "Gasabo Gold" acted as a "key partner" to both Rwandan government officials and the M23 paramilitary group to source and illegally move the Congolese gold from the country's east.
Gasabo Gold Chairman Jean Malic Kalima and General Manager Bosco Kayobotsi, the Rwandan mining companies Bugambira Mines LTD, Wolfram Mining and Processing LTD, and Rwinkwavu Mining Corporation LTD, have also been sanctioned.
In December 2025, US President Donald Trump signed the so-called Washington Accords with Democratic Republic of the Congo (DRC) President Felix Tshisekedi and Rwandan President Paul Kagame to formalize a peace deal between the two nations.
Nevertheless, the M23 paramilitary group, backed by Rwanda, intensified its offensive in South Kivu province in the eastern DRC in the past few days, and entered the city of Uvira.
The M23 was formed in 2012 by Congolese Tutsis. In late January 2025, M23 launched a large-scale offensive, escalating the conflict in the eastern DRC. Between January and February, rebels seized Goma and Bukavu, the provincial capitals of North and South Kivu. From March to July last year, hostilities intensified, triggering mass displacement and worsening a food crisis in the region.
