The US Treasury just went after one of Rwanda’s key gold processing facilities. OFAC sanctioned Gasabo Gold Refinery LTD, its chairman Jean Malic Kalima, and general manager Bosco Kayobotsi for their alleged role in smuggling gold out of rebel-controlled eastern Democratic Republic of Congo.
The designation, issued on June 25, freezes any US-based assets held by the refinery and its executives while barring American individuals and entities from doing business with them. The move targets what Treasury alleges is a pipeline funneling conflict minerals from M23-occupied territory in South Kivu province directly into Rwanda’s formal gold export system.
Following the gold trail
OFAC alleges Gasabo Gold Refinery served as a conduit for gold extracted from areas controlled by the M23 militia. At least 60 kilograms of gold, worth millions of dollars, was reportedly plundered from M23-controlled areas in early 2026 and transported to the Gasabo facility, allegedly with involvement from Rwandan military forces.
Rwanda’s gold exports hit $885 million in 2023, making gold the country’s single most valuable export commodity. The US isn’t acting alone here, either. The European Union imposed its own sanctions on related entities back in March 2025, making this part of a coordinated international effort to choke off the financial lifelines that keep armed groups operational in the DRC.
