Biden Re-imposes Sanctions on Diamond Billionaire Gertler

By John Jeffay / March 10, 2021 / www.idexonline.com / Article Link

(IDEX Online) - The new Biden administration has bowed to pressure and re-imposed sanctions on Israeli diamond billionaire Dan Gertler.It reverses a decision by former President Trump, who unfroze his US assets barely a month ago, during his final days in office.......That move infuriated human rights groups in the Democratic Republic of Congo, who claim he looted the nation's mineral wealth and propped up a corrupt regime. The Treasury Department has now revoked a special year-long license exempting Gertler's business activities from the sanctions.It has previously accused him of striking "opaque and corrupt mining deals" with the then-Congolese president Joseph Kabila that deprived the nation of $1.4 bn in tax revenues. Gertler, 47, worth $1.2bn according to Forbes, has denied all accusations.Washington's U-turn follows representations form 30 civil society organizations in the United States and Congo, as well as Democrats senators Benjamin Cardin, Dick Durbin and Cory Booker.Gertler (pictured) began trading diamonds in the late 1990s when Congo was in the middle of a bloody civil war.

Recent News

Another 'Bubble Check' for the gold sector

September 08, 2025 / www.canadianminingreport.com

Gold stocks continue to hit new highs

September 08, 2025 / www.canadianminingreport.com

Some mining stocks exposed to Burkina Faso take major hit

September 02, 2025 / www.canadianminingreport.com

Gold stocks again hit new highs

September 02, 2025 / www.canadianminingreport.com

Gold stocks reach new highs on metal price gain

August 25, 2025 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok