The Wagner Group has earned over US$2.5 billion from illicit gold mining since the invasion of Ukraine, according to a report by the World Gold Council.
The report, authored by former U.K. Deputy Prime Minister Dominic Raab, details how funds from illegal gold mining in Africa are funnelled into Russia’s war efforts.
In 2023, the U.S. Treasury Department imposed sanctions on four companies in the United Arab Emirates, Central African Republic, and Russia linked to the Wagner Group and its late leader, Yevgeny Prigozhin, who is presumed dead after a plane crash in August 2023.
“The Wagner Group funds its brutal operations in part by exploiting natural resources in countries like the Central African Republic and Mali,” said Brian Nelson, the Treasury’s Under Secretary for Terrorism and Financial Intelligence, at the time the sanctions were announced.
The World Gold Council report highlights that illicit gold mining not only finances conflicts but also contributes to civil wars, organized crime and benefiting extremist groups like the Islamic State and Al-Qaeda in the Sahel region.
In Colombia, illegal mining provides significant revenue to the Clan del Golfo, the National Liberation Army, and dissident factions of the Revolutionary Armed Forces of Colombia (FARC). Colombian authorities estimate that the FARC derives 20% of its funding from illegal gold mining.
Sudan reportedly lost nearly US$2 billion due to illegal gold mining.
Globally, artisanal and small-scale gold mining accounts for about 20% of annual gold production and involves up to 20 million workers across 80 countries. However, it is often marked by hazardous conditions, including the use of mercury and child labour. In La Rinconada, Peru, authorities estimate that over 4,500 girls from Peru and Bolivia have been trafficked for sexual exploitation in mining regions.
The report notes a lack of transparency in implementing legal protections for artisanal mining. Among its recommendations are calls for the International Criminal Court to investigate those enabling Wagner Group’s illicit gold trade as part of its operations. It also suggests that Interpol strengthen its use of data and border control measures to curb illegal gold trafficking.
Additionally, the report urges governments to impose sanctions, including visa bans and asset freezes, on officials collaborating with the Wagner Group or similar organizations. It also advocates for G7 and G20 nations to formally recognize illicit financial flows from illegal gold mining as a systemic threat to international security.
What about the Venezuelan gold stolen by the UK/USA? Iraqi gold anyone? Where did Libyan gold wind up?
This type of propaganda is expected from the UK when it comes to Russia, but that does not make it any more credible.