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US hits further 14 Gertler-related companies with sanctions


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US hits further 14 Gertler-related companies with sanctions

The U.S. Treasury Department hit 14 companies with fresh sanctions due to ties to controversial mining-entrepreneur Dan Gertler and business in the Democratic Republic of the Congo.

The move came the same day that Glencore PLC settled a dispute with two Gertler-affiliated businesses over royalty payments.

It is not the first time the U.S. Treasury has imposed sanctions against Gertler-related companies. In December 2017, it slapped sanctions on 19 companies tied to Gertler.

"Gertler has used his close friendship with DRC President Joseph Kabila to act as a middleman for mining asset sales in the DRC, requiring some multinational companies to go through Gertler to do business with the Congolese state," the department said in a June 15 statement.

A spokesperson for Gertler could not immediately be reached for comment.

Among other things, the sanctions prohibit "U.S. persons" from doing business with "blocked persons" including entities owned 50% or more by "designated persons."