In 2017 the U.S. Treasury hit billionaire Dan Gertler with sanctions for alleged corrupt dealings in Congo retaining lucrative royalty streams from three mining projects there. Under a new proposal, the Treasury would provide Gertler with special licenses to sell the three royalty streams back to the Congolese government which would grant him a license to regain access back to the U.S. financial system. While there is no official deal yet, US officials expect Gertler to receive around $300 million for the mining projects. At least four US Congress members and civil society groups are criticizing this proposal because they think lifting the restrictions would undermine the credibility of the U.S. sanctions regime. In a letter to Janet Yellen, Treasury secretary, Congress members wrote, “We fear that if sanctions are removed, Mr. Gertler will profit massively off his ill-gotten assets to the detriment of the Congolese people.”
https://www.ft.com/content/d55f9e63-a49d-47f5-967c-6a5730c67ded
Billionaire under Sanctions could get $300mn in Controversial Deal
