logo
#

Latest news with #PARECO-FF-controlled

U.S. imposes sanctions on 4 groups linked to DRC's conflict minerals trade
U.S. imposes sanctions on 4 groups linked to DRC's conflict minerals trade

Business Insider

timea day ago

  • Business
  • Business Insider

U.S. imposes sanctions on 4 groups linked to DRC's conflict minerals trade

The United States government has announced targeted sanctions against a network accused of fueling conflict and engaging in illicit mineral trading in eastern Democratic Republic of Congo, as Washington intensifies efforts to support peace initiatives in the region while securing access to its vast mineral resources. The United States announced targeted sanctions against groups engaging in illicit mineral trading in eastern DRC. Four organizations are identified, including armed groups and mining cooperatives tied to smuggling minerals. The sanctions aim to disrupt the financial networks of armed groups and promote lawful resource exploitation. The Washington Post reports that a senior U.S. official, speaking on condition of anonymity ahead of the formal announcement, confirmed that the sanctions imposed jointly by the State Department and the Treasury Department target four groups: • Coalition des Patriotes Résistants Congolais–Forces de Frappe (PARECO-FF), an armed group that from 2022 until early 2024 controlled the strategic coltan mining site of Rubaya in North Kivu province. Coltan, a vital source of tantalum used in electronics, is one of the region's most sought-after resources and a major driver of conflict financing. • Coopérative des Artisanaux Miniers du Congo (CDMC), a Congolese mining cooperative accused of purchasing and selling minerals smuggled from PARECO-FF-controlled areas. • East Rise Corporation Limited, a Hong Kong-based firm alleged to have purchased smuggled minerals for export. • Dragon Corporation Limited, another Hong Kong-based firm accused of buying these illicitly sourced minerals and feeding them into international supply chains. U.S. officials described the measures as part of a broader Trump administration strategy to disrupt the financial lifelines of armed groups in eastern Congo, curb the illicit mineral trade, and promote transparent, lawful exploitation of the country's natural resources. A report by a United Nations Group of Experts published last month revealed that Congo's army had received support from PARECO-FF in late 2024 and early 2025. The move further highlights the Trump administration's continued engagement in the Great Lakes region, positioning Washington as a central player in both regional peacebuilding and the global race to secure critical minerals. US' moves to restore peace in the DRC The United States has stepped up its diplomatic and economic engagement to help restore peace in the Democratic Republic of the Congo (DRC), where the mineral-rich eastern provinces have endured decades of armed conflict. These measures are part of a broader Trump administration strategy to stabilize the Great Lakes region, curb cross-border smuggling, and ensure that the DRC's vast mineral wealth benefits its citizens while entering legitimate global markets. The sanctions are a central element of a wider approach that blends economic pressure with diplomacy, aiming to cut off revenue streams that sustain armed groups while pressing regional actors toward negotiated settlements. This effort also ties into the controversial 'Minerals-for-Security' proposal, under which President Félix Tshisekedi offered the United States preferential access to the DRC's reserves of cobalt, lithium, tantalum, and copper in exchange for formal security assistance against the M23 rebellion and other militias destabilizing the east. By targeting both local and foreign actors in the illicit minerals trade, Washington seeks to disrupt conflict financing and lay the groundwork for lasting peace in the DRC's volatile east. However, rights groups note that over the years some U.S. companies, particularly in the technology and manufacturing sectors, have also faced accusations of sourcing cobalt, tantalum, tin, and gold from suppliers linked to armed groups.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store