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AP National Business

US sanctions Uganda gold dealer, citing illicit Congo origin

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KMIZ

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Published 6:59 AM

By RODNEY MUHUMUZA
Associated Press

KAMPALA, Uganda (AP) — A Belgian businessman sanctioned by the U.S. over allegations of illicit gold trade in Congo said Friday the action undermines efforts to improve transparency in a region seeing rising official exports of the mineral. The U.S. announced sanctions late Thursday targeting Alain Goetz and African Gold Refinery, a Uganda-based company that has been operational since 2014. The company is among several linked to Goetz that are “involved in the illicit movement of gold valued at hundreds of millions of dollars per year” from Congo, the Treasury Department said in a statement. 

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