Congo "Nearing Deal" to Recover $2bn Assets from Gertler
February 22, 22
(IDEX Online) - The Democratic Republic of Congo (DRC) is reportedly nearing a deal to recover over $2bn of oil and mining assets from the diamond and mineral tycoon Dan Gertler.
In a joint investigation last year by the Bloomberg financial news website, the Africa Confidential online magazine and the Israeli newspaper Ha'aretz he was accused of being behind the payment of $360m in bribes to DRC officials for mining and oil rights.
In 2017 the US Treasury Department imposed sanctions on Gertler (pictured), describing him as "an international businessman and billionaire who has amassed his fortune through hundreds of millions of dollars' worth of opaque mining and oil deals in the Democratic Republic of the Congo".
On Friday DRC government minister Augustin Kibassa announced on national TV that it weas close to reaching a memorandum of understanding with Gertler's Fleurette Group to recover oil and mining assets, as well as substantial royalties from the Kamoto Copper Company.
Bloomberg said Gertler's spokesman had declined to comment.
Gertler, 48, an Israeli citizen who expanded his business interests from diamonds, has always strongly denied corruption allegations against him and insisted he has brought huge investment to the DRC.
The civil society coalition Congo is Not for Sale claimed in May 2021 that the DRC stood to lose at least $3.71bn from "suspect mining and oil deals" with Gertler.