The White House is contemplating the possibility of reducing sanctions on an Israeli billionaire.

Daily Dumpling: The White House is contemplating the possibility of reducing sanctions on an Israeli billionaire.

The Biden administration is reconsidering its sanctions on Israeli mining executive Dan Gertler in a move to increase the supply of cobalt for electric vehicles. This decision has faced opposition from some State and Treasury Department officials due to concerns about corruption. Gertler's involvement in Congo's mining industry has sparked controversy, with human rights activists criticizing any easing of sanctions. The proposed deal aims to attract Western investment in Congo's mining sector and enhance economic ties with the country. However, challenges remain in ensuring accountability and preventing financial gains from illicit activities. The administration's emphasis on alternative energy sources aligns with the deal, which seeks to address the competitive disadvantage faced by the U.S. in the global electric vehicle market.

Previous Post Next Post