Dan Gertler Placed on US Treasury Sanctions List
Israeli diamantaire and billionaire Dan Gertler has been placed on the US Treasury's Office of Foreign Assets Control (OFAC) sanctioned individuals list due to his business ties with President Joseph Kabila of the Democratic Republic of Congo (DRC).
President Donald Trump signed an executive order placing Gertler, the grandson of former Israel Diamond Exchange and World Federation of Diamond Bourses President Moshe Schnitzer, on the OFAC list together with 14 other people and 37 companies.
Being a “specially designated national” of OFAC means that American citizens cannot do business with Gertler or his companies. All of his property and financial interests in the United States are also blocked.
“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 U.S. Treasury said in a statement. Between 2010 and 2012 alone, Congo reportedly lost over $1.36 billion in revenues from the underpricing of mining assets that were sold to offshore companies linked to Gertler, it said.
Gertler has not responded to the OFAC listing.