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US sanctions entities profiting conflict minerals DRC
(MENAFN) The United States imposed sanctions on Tuesday against four entities reportedly benefiting from the trade of conflict minerals in eastern Democratic Republic of the Congo (DRC).
According to reports, the Treasury Department’s Office of Foreign Assets Control (OFAC) designated the Congolese mining cooperative CDMC, Hong Kong-based East Rise Corporation Limited, Star Dragon Corporation Limited, and the armed group PARECO-FF. These entities are allegedly involved in exploiting critical minerals through forced labor, violence against civilians, and smuggling operations that destabilize the region.
“The conflict minerals trade is exacting a deadly toll on Congolese civilians, fueling corruption, and preventing law-abiding businesses from investing in the DRC,” said John Hurley, Under Secretary of the Treasury for Terrorism and Financial Intelligence.
In a separate statement, the State Department emphasized, “The U.S. government will continue to take action to support a mining sector that contributes to lasting stability and economic development in the Great Lakes region and secure, reliable global critical minerals supply chains.”
According to reports, the Treasury Department’s Office of Foreign Assets Control (OFAC) designated the Congolese mining cooperative CDMC, Hong Kong-based East Rise Corporation Limited, Star Dragon Corporation Limited, and the armed group PARECO-FF. These entities are allegedly involved in exploiting critical minerals through forced labor, violence against civilians, and smuggling operations that destabilize the region.
“The conflict minerals trade is exacting a deadly toll on Congolese civilians, fueling corruption, and preventing law-abiding businesses from investing in the DRC,” said John Hurley, Under Secretary of the Treasury for Terrorism and Financial Intelligence.
In a separate statement, the State Department emphasized, “The U.S. government will continue to take action to support a mining sector that contributes to lasting stability and economic development in the Great Lakes region and secure, reliable global critical minerals supply chains.”
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