US Treasury Sanctions Alain Goetz and a Network of Companies Involved in the Illicit Gold Trade

On 17 March, the US Treasury advised that OFAC had sanctioned Alain Goetz, the African Gold Refinery in Uganda, and a network of companies involved in the illicit movement of gold valued at hundreds of millions of dollars per year from the Democratic Republic of the Congo (DRC).  The illicit movement of gold provides revenue to armed groups that threaten the peace, security, and stability of the DRC.

https://home.treasury.gov/policy-issues/financial-sanctions/recent-actions/20220317

https://home.treasury.gov/news/press-releases/jy0664

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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