Across West and Central Africa, gold is no longer just a precious metal, it has become a weapon of war. Russian-backed mercenaries, operating under groups like the Wagner-linked Africa Corps, are turning gold fields in Sudan, Mali, the Central African Republic (CAR), and Burkina Faso into sites of violence and exploitation. Their mission: extract and smuggle gold to finance Moscow’s war in Ukraine, often at the expense of local communities.
Since the invasion of Ukraine in 2022, Russia has faced extensive Western sanctions, including restrictions on gold exports. Yet, its central bank reported record gold reserves of $310 billion in December 2025. To sustain its war economy, Moscow is selling bullion domestically and laundering foreign gold through third-party African intermediaries. Mali, for example, remains outside gold sanctions, offering a legal loophole the Kremlin exploits.
Independent investigations, such as those by the Blood Gold Project and global think tanks, estimate that smuggled African gold has generated more than $2.5 billion for Russia since 2022. This illicit wealth is used not only for domestic budget support but also to fund weapons purchases from Iran and North Korea, prop up mercenary operations, and maintain political leverage abroad.
Gold has emerged as Russia’s most strategic wartime asset. Highly mobile, easy to launder, and accepted internationally, it enables Moscow to circumvent sanctions while sustaining its economy and military. Beyond finance, Russian involvement in gold mining allows for significant political leverage. By controlling or influencing mines, Russia exerts power over local governments and economies.
Before the invasion, Moscow had already shifted 60% of its National Wealth Fund into yuan and 40% into gold, a hedge against anticipated Western financial pressure. Today, gold is central to Moscow’s wartime exchanges, ranging from weapons-for-gold deals to state-to-state payments. Africa has now become the Kremlin’s alternative treasury.
Russia’s footprint in Africa has expanded dramatically since 2018, leveraging weak governance, local conflicts, and resource wealth. Wagner and Africa Corps forces provide military backing, diplomatic cover, and strategic training in exchange for access to gold, diamonds, timber, and other critical minerals.
Mali, Burkina Faso, CAR-(Central African Republic) and Sudan are at the heart of this operation. These countries collectively produce hundreds of tonnes of gold annually, making the Sahel a key supplier. In return for access to these resources, Russia supplies military support, disinformation campaigns and UN lobbying, all framed under the guise of ‘sovereignty’ or ‘security assistance’.
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