Changing course, US cracks down on Israeli billionaire over corruption | Bilyonaryo Business News

Changing course, US cracks down on Israeli billionaire over corruption

The United States reimposed curbs Monday on an Israeli billionaire accused of corruption in the Democratic Republic of Congo, reversing a move by Donald Trump during his last days in office.

Rights groups had urged Joe Biden’s new administration to halt the recent easing of sanctions on mining tycoon Dan Gertler, whom Washington claims deprived the DRC of $1.4 billion in tax revenues over the past decade.

US State Department spokesman Ned Price said the license granted to Gertler five days before Trump left the White House had been revoked, as it was “inconsistent with America’s strong foreign policy interests in combatting corruption around the world.”

The United States hit Gertler with sanctions in December 2017 over mining deals struck with help from his friend, then-Congolese president Joseph Kabila.

John Prendergast, co-founder of The Sentry investigative non-profit group, welcomed Monday’s decision to again tighten measures against Gertler.

“Gertler’s corrupt partnership with former president Joseph Kabila cost the DRC dearly in terms of lost resources, lost services, and, ultimately, lost lives,” Prendergast said.

“Restoring the sanctions enables Congolese and US anti-corruption efforts to get back on track.”

While Gertler and his firms had remained on the sanctions list, the Trump-granted license allowed their transactions to go ahead and unfroze some of their assets. © Agence France-Presse

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