US Sanctions Rwandan Gold Refinery Over Congo Smuggling Allegations
- The United States has sanctioned Rwanda’s Gasabo Gold Refinery for allegedly smuggling minerals from rebel-held areas in the Democratic Republic of Congo
- Washington alleges the refinery is linked to the M23 rebel group, which controls gold and coltan-rich territories in eastern Congo
- The move builds on a peace deal signed in December 2025, but comes amid continued fighting in the region
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The United States has imposed sanctions on Rwanda’s Gasabo Gold Refinery, accusing it of smuggling minerals from rebel-controlled areas in the Democratic Republic of Congo (DRC).
The measures, announced on June 25, 2026, also target the refinery’s chairman, Jean Malic Kalima, and general manager, Bosco Kayobotsi.
Source: Getty Images
According to BBC, Washington claims the refinery is part of a “network” working with the M23 rebel group, which controls parts of eastern DRC rich in gold and coltan, a mineral essential for electronics.
Rwanda’s Gasabo Gold Refinery: Allegations of smuggling
According to the US Treasury, at least 60kg of gold, worth millions of dollars, were smuggled from eastern DRC to Gasabo Gold in early 2026. The statement further alleges that Rwandan government officials and soldiers oversaw the system.
Treasury secretary, Scott Bessent, said:
"The United States will not allow rogue groups to profit from the illicit mineral trade and destabilise the region. The Democratic Republic of the Congo's mineral wealth rightfully belongs to the Congolese people."
Rwanda’s Gasabo Gold Refinery: Previous EU sanctions
This is not the first time Gasabo Gold Refinery has faced international action. In 2025, the European Union sanctioned the company for “exploiting the armed conflict” in DRC. On June 25, the US also sanctioned three mining firms controlled by Kalima — Bugambira Mines, Wolfram Mining and Processing, and Rwinkwavu Mining Corporation.
Gasabo Gold Refinery: Rwanda’s response
Rwanda has long denied supporting the M23 rebel group, despite evidence presented by UN experts. The government has not yet responded to the latest sanctions but has previously described similar measures as unfair and one-sided.
The sanctions mean any assets under US jurisdiction belonging to the refinery or its executives will be frozen. American citizens and companies are barred from conducting business with them. The sanctioned parties have not responded to requests for comment.
Speaking with Legit.ng, AbdulRasheed Hussain, a policy analyst based in Nigeria, analysed US sanctions on Rwanda’s gold refinery:
“The US sanctions on Rwanda’s Gasabo Gold Refinery highlight how mineral wealth in eastern Congo remains at the center of regional instability. By linking the refinery to the M23 rebel group and accusing it of smuggling gold and coltan, Washington is signaling that illicit trade is fueling conflict and undermining peace efforts. The fact that both the EU and US have now sanctioned Gasabo shows growing international consensus, but Rwanda’s repeated denials point to the complexity of proving state involvement.”
DRC: Peace deal and ongoing conflict
The move builds on a peace deal signed in December 2025 between the presidents of Rwanda and DRC, brokered by the US. The agreement aims to end the long-running conflict in eastern DRC and establish a transparent minerals sector. Analysts believe it could also encourage US investment in the region’s mineral wealth.
However, fighting has continued despite the deal. At a summit on Wednesday, officials from DRC, Rwanda and the US expressed “serious concern over the escalating fighting” in eastern Congo.
Source: Getty Images
CBN directs immediate freeze on assets of 6 Nigerians
Legit.ng earlier reported that the Central Bank of Nigeria (CBN) ordered all banks and financial institutions to immediately freeze the assets of six individuals and four Bureaux de Change (BDCs) designated on terrorism financing sanctions lists, in a circular issued on Wednesday, June 24, 2026.
The directive was issued pursuant to designations by the Nigeria Sanctions Committee (NIGSAC) and the United States Department of the Treasury's Office of Foreign Assets Control (OFAC) under Executive Order 13224, as amended, relating to terrorism and terrorism financing.
Proofreading by James Ojo, copy editor at Legit.ng.
Source: Legit.ng
