OFAC Sanctions Entities, Companies Tied to Congo Violence, Critical Minerals Trade
The Office of Foreign Assets Control this week sanctioned an armed group, a mining company and two export firms for their ties to violence and the sale of critical minerals in the Democratic Republic of the Congo. John Hurley, the Treasury Department's undersecretary for terrorism and financial intelligence, said the critical minerals trade in the DRC is harming civilians, "fueling corruption, and preventing law-abiding businesses from investing in the DRC."
Sign up for a free preview to unlock the rest of this article
Export Compliance Daily combines U.S. export control news, foreign border import regulation and policy developments into a single daily information service that reliably informs its trade professional readers about important current issues affecting their operations.
The designations target Coalition des Patriotes Résistants Congolais-Force de Frappe, a successor movement to Pareco, an armed group with a "long history of destabilizing activities" in the region, OFAC said. The group's mining operations, illegal taxation schemes and smuggling activities in Rubaya have been aided by the Cooperative des Artisanaux Miniers du Congo, a Congolese mining company that OFAC said sells minerals sourced and smuggled in the region.
Cooperative des Artisanaux Miniers du Congo sold minerals to Hong Kong-based export companies East Rise Corporation Limited and Star Dragon Corporation Limited. "The trade of conflict minerals drives insecurity and instability in the DRC by providing a source of funding to armed groups and depriving the DRC government of revenue," OFAC said.