The privately owned Saudi Gold Refinery Company has confirmed that it wants to buy gold from Sudan (AC Vol 67 No 1, Undoing what remains of the nation). That could hit the finances of the RSF, which control swathes of Sudan, particularly the western regions. Gold sales, official and otherwise, to the UAE, have been matched with a steady supply of weapons for the RSF. The Sudanese government officially cut ties with the UAE last June but gold exports have continued, taking advantage of record prices that exceeded US $5,000 an ounce in January. Saudi Arabia wants to ensure that its geopolitical rivals, including the UAE, do not gain access to the Red Sea.

Source: The North Africa Journal February 01, 2026 19:32 UTC