“Illicit gold is an attack on the legitimate trade in the precious commodity, fueling corruption, undermining the rule of law and perpetuating human rights abuses such as child labour,” the UK said in a statement.
This means that Russia is using illegal gold to finance the war in Ukraine.
“Russia is using the illicit gold trade to launder money and evade sanctions, thereby bolstering (President Vladimir) Putin’s military efforts.”
Great Britain and other Western countries banned the import of Russian gold in 2022 to stop Moscow’s ability to finance the war.
Britain said the sanctions were aimed at “disrupting and deterring” Pattni’s business relationships.
He is believed to have been one of the key architects of the Goldenberg scandal, a major gold and currency fraud in the 1990s that nearly bankrupted Kenya and implicated senior members of the Kenyan government.
He faced trial in 2006 for his alleged role in the scheme, but the proceedings failed. Patni later became a self-proclaimed pastor.
According to the US Treasury Department, Putney was friends with former Zimbabwean President Robert Mugabe and used that relationship to make money exploiting the country’s natural resources.
“This fraudulent scheme has deprived the citizens of Zimbabwe of the benefits of these natural resources while enriching corrupt government officials and criminals,” it said.
Putney was implicated in Al Jazeera’s explosive investigation into Zimbabwe’s “gold mafia”. He denied involvement in money laundering or gold smuggling.
The US Treasury Department said that Putni’s illegal network spanned several countries.
The announcement came as the UK government unveiled a new program to fight global corruption.
