THE US has sanctioned a Kigali-based gold refinery because it was allegedly processing minerals smuggled from the Democratic Republic of Congo by M23 – a rebel group said to be backed by Rwandan military.
The US Treasury department targeted Gasabo Gold Refinery and its chairman, Jean Malic Kilima, along with four other companies he controls, said the Financial Times on June 26. According to the claims, the refinery acted as a key channel for gold moved out of rebel-held eastern Congo since M23’s takeover last year.
At least 60 kilograms of gold worth millions of dollars were funnelled through the scheme in early 2026 alone. The EU had already sanctioned the refinery last year, the FT said.
Treasury Secretary Scott Bessent said Washington would not tolerate armed groups profiting from illicit mineral trade. Congo’s mineral wealth belongs to its people, he added.
Rwanda earned an estimated $1.5bn exporting a record 19.4 tons of gold in 2024 despite minimal domestic production, making bullion its top foreign currency earner.
Kigali had reacted angrily to earlier US sanctions on its defence forces, arguing Washington was unfairly singling it out while Kinshasa also breached peace commitments, the FT said.
The sanctions follow a White House-brokered accord under which Rwandan-backed forces were meant to withdraw from eastern Congo while Kinshasa cut support for FDLR rebels. Secretary of State Marco Rubio said this month that compliance with the deal had fallen short, forcing Washington’s hand.
