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US Considers Lifting Sanctions on Israeli Tycoon Dan Gertler for Congolese Mining Exit

Dan Gertler, a billionaire, has been accused of corruption in the DRC and placed on the US sanctions list in 2017.

Dan Gertler

The Biden administration is considering a controversial deal with Israeli businessman Dan Gertler, according to a Financial Times report. The proposal would lift sanctions on Gertler in exchange for his selling his remaining mining interests in the Democratic Republic of Congo (DRC) back to the government.

Dan Gertler, a billionaire, has been accused of corruption in the DRC and placed on the US sanctions list in 2017. However, the US now sees an opportunity to both improve relations with the DRC and gain access to critical minerals for technology. The DRC is the world’s leading supplier of cobalt, essential for electric car batteries and other electronics.

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Under the proposed deal, Gertler would receive special permits to sell his Congolese mining holdings. Completing the sale would then grant him a broader license, allowing him to re-enter the US financial system.

This proposal has raised concerns from some US lawmakers. Critics worry that lifting sanctions would allow Gertler to profit unfairly from potentially corrupt deals, harming the Congolese people.

Several members of the US Congress wrote to the Biden Administration saying, “We fear that if sanctions are removed, Mr Gertler will profit massively off his ill-gotten assets to the detriment of the Congolese people.”

However, the Biden administration argues that the deal could benefit both the US and the DRC. By removing a controversial figure from the Congolese mining sector, they hope to create space for more transparent and accountable practices. Additionally, securing access to critical minerals from the DRC is seen as a strategic priority for the US.

Dan Gertler founded the DGI group in 1996 and has become a major player in the DRC mining sector. His close ties to former DRC presidents have fueled accusations of using those connections to secure unfair deals.

Whether the proposed deal with Dan Gertler goes through remains to be seen. The Biden administration will need to weigh the potential benefits against the concerns of critics and navigate the complex political landscape in the Democratic Republic of Congo.



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