US sanctions gold firms suspected of funding Wagner Group

us-sanctions-gold-firms-suspected-of-funding-wagner-group
US sanctions gold firms suspected of funding Wagner Group

The United States has imposed sanctions on companies it believes are connected to Russia’s Wagner Group, accusing them of engaging in illicit gold dealings to fund the mercenary force. The U.S. Treasury Department announced that it has sanctioned four companies in the United Arab Emirates, Central African Republic, and Russia, as well as Wagner Group’s leader, Yevgeny Prigozhin. These companies have been involved in illicit gold dealings to sustain and expand the Wagner Group’s armed forces, including in Ukraine and various African countries.

According to Brian Nelson, the Treasury’s Under Secretary for Terrorism and Financial Intelligence, the Wagner Group funds its operations by exploiting natural resources in countries like the Central African Republic and Mali. The United States aims to target the Wagner Group’s revenue streams to degrade its expansion and violence in Africa, Ukraine, and other regions.

The Wagner Group has not yet responded to the allegations made by the United States. The U.S. State Department clarified that the action against Wagner is unrelated to an aborted mutiny that occurred last weekend.

Wagner, known for recruiting thousands of ex-prisoners from Russian jails to fight in Ukraine, has become a sprawling international business with mining interests and fighters in Africa and the Middle East. Russian President Vladimir Putin announced that Prigozhin’s catering firm’s finances would be investigated following the mutiny, revealing that Wagner and its founder had received nearly $2 billion from Russia in the past year. Wagner has been involved in conflicts in Libya, Syria, the Central African Republic, Mali, and other countries. It played a significant role in the war in Ukraine, which began after Russia annexed Crimea and supported pro-Russia separatists in Ukraine’s Donbas region.

The United States has previously imposed sanctions on Wagner and Prigozhin, citing the private army’s destabilizing activities. These sanctions have been intensified following Russia’s invasion of Ukraine.

The companies targeted with sanctions include Midas Ressources SARLU and Diamville SAU based in the Central African Republic, Industrial Resources General Trading based in Dubai, and Limited Liability Company DM based in Russia. Additionally, the United States issued an advisory highlighting the risks associated with gold trade in sub-Saharan Africa due to the involvement of illicit actors like the Wagner Group.

Furthermore, the United States imposed sanctions on Andrey Nikolayevich Ivanov, a Russian national accused of being an executive in the Wagner Group. The Treasury stated that Ivanov worked closely with senior Malian officials on weapons deals, mining concerns, and other Wagner activities in the country.

The Russian embassy in Washington and Industrial Resources have not yet responded to requests for comment. RushHourDaily was unable to reach spokespersons for Midas Ressources, Diamville, or Limited Liability Company DM.

In conclusion, the United States has taken action against companies connected to the Wagner Group, accusing them of engaging in illicit gold dealings to fund the mercenary force. These sanctions aim to disrupt the Wagner Group’s expansion and violence in Africa, Ukraine, and other regions.

About News Team

Hi, I'm Alex Perez, an experienced writer with a focus on lifestyle and culture news. From food and fashion to travel and entertainment, I love exploring the latest trends and sharing my insights with readers. I also have a strong interest in world news and business, and enjoy covering breaking stories and events.

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