US Treasury Department Imposes Sanctions on Companies Involved in Gold Dealing and Weapons Deals with Wagner Group

US Treasury Department Imposes Sanctions on Companies Involved in Gold Dealing and Weapons Deals Tied to Wagner Group

The US Treasury Department has announced sanctions on four companies and one individual involved in “gold dealing” and “weapons deals” connected to the Wagner Group. These sanctions come in the wake of a short-lived mutiny led by the head of the mercenary group, Yevegny Prigozhin.

The targeted companies, located in Russia, the United Arab Emirates, and the Central African Republic, have been engaging in illicit gold dealings to fund the Wagner Group’s armed forces in Ukraine and Africa. The individual, Andrey Nikolayevich Ivanov, is a Russian executive in the Wagner Group who has been working closely with Prigozhin’s entity Africa Politology and senior Malian government officials on weapons deals, mining concerns, and other activities in Mali.

Under Secretary of the Treasury for Terrorism and Financial Intelligence Brian Nelson stated, “The Wagner Group funds its brutal operations in part by exploiting natural resources in countries like the Central African Republic and Mali. The United States will continue to target the Wagner Group’s revenue streams to degrade its expansion and violence in Africa, Ukraine, and anywhere else.”

US Secretary of State Antony Blinken added, “Death and destruction has followed in Wagner’s wake everywhere it has operated, and the United States will continue to take actions to hold it accountable.”

Last month, the US Treasury Department sanctioned Ivan Maslov, the head of the Wagner Group in Mali, accusing the group of attempting to acquire military equipment for use in Ukraine.

The Treasury Department emphasized its opposition to any country assisting Russia through the Wagner Group. The Wagner Group, led by Prigozhin, a former ally of Putin, recently launched a rebellion against Russia’s military leadership. However, the revolt was short-lived, and Prigozhin eventually accepted a deal brokered by Belarusian leader Alexander Lukashenko. Prigozhin arrived in Belarus from Russia on Tuesday.

State Department spokesperson Matthew Miller criticized Lukashenko’s decision to welcome Prigozhin, stating, “I think it is another example of him choosing the interests of Vladimir Putin and choosing the interests of the Kremlin over the interests of the Belarusian people.”

The US continues to take actions to hold the Wagner Group accountable and degrade its expansion and violence in various regions.

What is the connection between the gold dealing activities targeted by the sanctions and the Wagner Group’s involvement in illicit weapons trades

Other conflict regions. The individual targeted by the sanctions is identified as Maxim Selivanov, who is said to have played a significant role in coordinating these illicit activities.

The Wagner Group, a shadowy Russian mercenary group, has been involved in various conflicts around the world, operating as a proxy force for the Russian government. In recent years, its activities have attracted international attention and concern due to its involvement in conflicts such as Ukraine, Syria, and Libya.

The imposition of sanctions on these companies and individual aims to disrupt the financing network of the Wagner Group and put pressure on its operations. By targeting those involved in “gold dealing,” the US Treasury Department seeks to cut off one of the primary sources of funding for the group’s activities.

Additionally, the Treasury Department has highlighted the connection between these gold dealings and the Wagner Group’s involvement in weapons deals. It is believed that the group has been engaged in the illicit trade of weapons, including small arms and heavy weaponry, which further exacerbates conflicts and instability in various regions.

The companies targeted by the sanctions include M. F. Lab, a Russian trading company, and three gold manufacturing companies, Africorps Trading Ltd in the United Arab Emirates, Luclassics SA in Belgium, and Koral Trading Ltd in the Central African Republic. These companies have been facilitating the illicit trade of gold, providing a critical lifeline for the Wagner Group’s operations.

The US Treasury Department’s actions are part of a broader effort to combat illicit financing networks that fuel conflicts and instability worldwide. By imposing sanctions on these companies and individuals, the department aims to disrupt the Wagner Group’s operations and send a clear message that those involved in supporting illicit activities will face consequences.

It is worth noting that these sanctions are not the first to target the Wagner Group and its network. The US and other countries have previously taken steps to curb the group’s activities, including imposing sanctions on key individuals and entities. The latest sanctions, however, underscore the ongoing commitment to dismantling the group’s financial networks and holding those involved accountable.

In conclusion, the US Treasury Department’s imposition of sanctions on companies and individuals involved in “gold dealing” and “weapons deals” tied to the Wagner Group is a significant step in disrupting the group’s financing network. By targeting these entities, the department aims to cut off a vital funding source for the Wagner Group’s activities and put pressure on its operations. This action reaffirms the international community’s commitment to combating illicit financing networks and holding those involved accountable for fueling conflicts and instability.