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US sanctions gold, diamond cos.aiding Wagner Group

The US Department of the Treasury has issued sanctions against four companies and an individual in the gold and diamond industries that have provided funding to Russian military organization Wagner Group.

The Central African Republic (CAR), United Arab Emirates (UAE) and Russia-based entities have “engaged in illicit gold dealings” to help Wagner “sustain and expand” its army in Ukraine and Africa, the government office said Tuesday.

“Treasury’s sanctions disrupt key actors in the Wagner Group’s financial network and international structure,” explained Brian Nelson, under secretary of the Treasury for Terrorism and Financial Intelligence. “The Wagner Group funds its brutal operations in part by exploiting natural resources in countries like CAR and Mali.”

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