Browsing: Port of Djibouti

The slight dip by gold prices is related to strengthening of the U.S. dollar but it is not expected to stay down as new cases of coronavirus emerge. Photo/Dialabannk

Russia exploits Djibouti’s port gaps to tighten grip on Sudan’s gold

Countries
  • Over half of Sudan’s gold is smuggled out of the country with the proceeds going to finance internal conflict.
  • Last year, Sudan's Central Bank banned the export of gold by government agencies and foreigners, individuals, and companies.
  • The directive, however, excluded concession companies operating in mining.

Lack of a well-coordinated management in the port of Djibouti is turning out to be a benefit for Russia, which is expanding its influence over Sudan's gold reserves while solidifying its superpower standing in the Middle East.

These revelations are in a new report published by the Pangea-Risk, a specialist intelligence company. The report is offering analysis and forecasts on political, security, and economic risk in Africa and the Middle East.

The report comes weeks after the Wagner Group threatened to topple Russian President Vladimir Putin. With a power struggle in Moscow, Wagner's clients are in a tailspin, unsure of the future of their…

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