OFAC lists Rwandan gold refinery and network over illicit conflict minerals trade in eastern DRC
The US Treasury Department sanctioned a Rwandan gold refinery, two executives and three mining firms, while also extending a Russia-related Lukoil license and updating related guidance.
WASHINGTON, June 25, 2026 — The US Treasury Department’s Office of Foreign Assets Control on Thursday designated Rwanda-based Gasabo Gold Refinery Ltd., its chairman Jean Malic Kalima, general manager Bosco Kayobotsi, and three Kalima-linked mining companies under the Democratic Republic of the Congo sanctions program. OFAC said the network enabled the illicit trade in conflict minerals from eastern DRC and materially supported M23, the armed group at the center of the latest action.
The three additional entities added to the SDN List are Bugambira Mines Ltd., Rwinkwavu Mining Corporation Ltd. and Wolfram Mining and Processing Ltd. OFAC said Gasabo Gold helped move and refine gold sourced from areas occupied by Rwanda Defence Force and M23 elements in eastern DRC. Treasury said at least 60 kilograms of gold worth millions of dollars moved through the scheme in early 2026.
Treasury said the action is part of broader pressure on networks fueling conflict and mineral theft in eastern DRC. The department said M23 has captured territory in North and South Kivu and used illicit mineral trafficking to finance operations, while the trade has been linked to forced labor, child labor and other human rights abuses.
Separately, OFAC issued Russia-related General License 131G, which authorizes transactions ordinarily incident and necessary to negotiating and entering contingent contracts for the sale, disposition or transfer of Lukoil International GmbH and its majority-owned subsidiaries to non-blocked parties. The license also authorizes related maintenance or wind-down activity through 12:01 a.m. EDT on July 25, 2026, but does not permit transfers of funds to any person or account in the Russian Federation. It replaces General License 131F.
OFAC also updated FAQs 1224 and 1225 to clarify that General License 131G covers negotiations on definitive agreements and due diligence tied to potential sales of Lukoil International GmbH assets, and that non-US persons generally do not risk exposure under Executive Order 14024 when engaging in transactions authorized by GL 131G or GL 128C, so long as the activity stays within the license terms.
For compliance teams, the immediate impact is a new DRC-related SDN listing package and a fresh July 25 deadline for authorized Lukoil divestment and maintenance activity.
Regulatory Actions
Structured data extracted from official sources and validated by sanctions experts