The US Treasury just dropped sanctions on a Rwandan gold refinery accused of laundering conflict minerals stolen from eastern Congo. Gasabo Gold Refinery LTD, along with several associated entities and individuals, is now blocked from doing business with any US person or institution.
The action, taken on June 25, 2026, by the Office of Foreign Assets Control (OFAC), represents one of the most significant enforcement moves targeting the illicit gold trade flowing out of the Democratic Republic of the Congo. In English: if you’re a US-based company, bank, or individual, touching Gasabo Gold or its network is now a federal offense.
What happened and who got hit
OFAC designated Gasabo Gold Refinery LTD under Executive Order 13413, which specifically targets entities undermining peace and stability in the DRC. The refinery, based in Kigali, Rwanda, was established on May 26, 2022, and is accused of serving as a critical laundering hub for gold extracted from mines controlled by the M23 armed group in South Kivu.
The sanctions didn’t stop at the corporate entity. Chairman Jean Malic Kalima and General Manager Bosco Kayobotsi, who control the refinery’s operations, were both individually designated. Their personal assets subject to US jurisdiction are now frozen, and US persons are prohibited from transacting with them.
