UK slaps sanctions on gold networks, financiers fueling Sudan war
By Aboki Forex —
Britain has announced fresh sanctions targeting individuals and companies accused of financing Sudan's brutal conflict through illicit gold trading and financial networks. The measures hit 11 entities and individuals linked to both the Rapid Support Forces (RSF) and the Sudanese Armed Forces (SAF), in a bid to cut off revenue streams that have kept the war running since 2023.
Who is on the UK sanctions list?
Those sanctioned include an alleged RSF financier operating through Dubai-based real estate, gold and holding companies. The list also covers procurement operatives linked to the RSF, two UAE-based companies, one Hong Kong-based company, and three Sudanese state-owned mining firms that Britain says are connected to financing the army. The UK government warned that El Obeid, a strategic city in central Sudan, faces the risk of mass atrocities and called for the United Nations arms embargo to be extended to cover the area.
Billions in smuggled gold
The UK noted that Sudan's official gold exports were worth approximately US$1.5 billion across 2024 and 2025. However, it estimated that billions of dollars' worth of gold are smuggled abroad through illicit channels each year. The sanctions follow similar measures announced by the European Union earlier this week targeting Sudan's gold trade.
What this means for the naira and Nigerian businesses
For Nigeria, the UK action tightens global scrutiny on gold flows from conflict zones. Nigerian regulators and traders should watch for increased compliance checks on gold imports and exports, especially transactions routed through Dubai and Hong Kong. Any tightening of international gold trade rules could affect informal gold flows in West Africa, where Nigeria remains a key transit and consumption hub.