Treasury's Office of Foreign Assets Control (OFAC) has announced the imposition of sanctions on four companies and one individual connected to the notorious Russian military group, PMC Wagner (Wagner Group), and its founder, Yevgeniy Prigozhin.
The sanctioned entities, involved in illicit gold dealings, are located in the Central African Republic (CAR), the United Arab Emirates (UAE), and Russia. The move aims to disrupt the Wagner Group's financial network and international structure, which supports its violent operations around the world.
Under Secretary of the Treasury for Terrorism and Financial Intelligence, Brian E. Nelson, emphasized the importance of targeting the Wagner Group's revenue streams to hinder its expansion and violence in Africa, Ukraine, and elsewhere. The Wagner Group is known for its brutal acts, committing atrocities and criminal activities that threaten the safety, governance, prosperity, and human rights of nations while exploiting natural resources.
The sanctioned companies include Midas Ressources SARLU (Midas), a CAR-based mining company owned by Prigozhin. Midas holds mining concessions, including the Ndassima gold mine, estimated to contain over one billion dollars' worth of gold. It has collaborated with the Wagner Group and even prevented CAR government officials from inspecting the mine. The company has also been found to be working with the CAR-based rebel group Unité pour la Paix en Centrafrique (UPC), violating mining regulations and UN sanctions.
Diamville SAU (Diamville), controlled by Prigozhin, is a CAR-based gold and diamond purchasing company involved in a gold selling scheme that aimed to convert CAR-origin gold into U.S. dollars. Diamville also exported diamonds mined in the CAR to buyers in the UAE and Europe.
Industrial Resources General Trading (Industrial Resources), based in Dubai, has provided financial support to Prigozhin through its dealings with Diamville. The company participated in the gold selling scheme and facilitated the transfer of cash to Russia following the imposition of U.S. sanctions on Russian financial institutions.
Limited Liability Company DM (OOO DM), a Russian firm, also participated in the gold selling scheme and has been designated by OFAC.
The individual sanctioned, an executive in the Wagner Group, was involved in weapons deals, mining concerns, and other activities in Mali, working closely with Prigozhin's Africa Politology and senior Malian government officials.
The Wagner Group, acting as a proxy military force for the Kremlin, has been responsible for widespread human rights abuses and the exploitation of natural resources in Africa. It has also participated in Ukraine's conflict and engaged in a scheme to procure weapons using false end-use certificates in Mali.
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