U.S. sanctions Rwanda’s defence ministry and a bank over M23 support

On October 28, 2026, the U.S. Treasury Department sanctioned Rwanda’s Ministry of Defence and Zigama Credit and Savings Society, alleging material support for M23 and related actors in eastern Democratic Republic of the Congo. Treasury also alleged that Zigama facilitated weapons payments and transactions connected to gold sourced from M23-controlled territory. Companies buying minerals or using financial intermediaries linked to the region should connect sanctions diligence with chain-of-custody, beneficial-ownership and conflict-minerals controls rather than treating them as separate workstreams. The action raises secondary exposure for banks, traders and manufacturers whose documentation cannot show where mineral value entered the supply chain.