The Democratic Republic of Congo (DRC) on Thursday published a dispute settlement deal agreed in February with Dan Gertler, an Israeli businessman under US sanctions, showing the central African country agreed to pay his company $250-million.

Congo's presidency in February announced an out-of-court agreement with Gertler's Ventora Development to end a dispute over mining and oil contracts. Under the deal, Ventora agreed to give several assets back to the state.

The US Treasury imposed sanctions on Gertler and more than 30 of his businesses in December 2017 and June 2018, accusing him of leveraging his friendship with former Congo President Joseph Kabila to secure lucrative mining deals.

Gertler has denied any wrongdoing. A spokesperson for Gertler did not immediately reply to a request for comment on the deal.

The agreement, copies of which were handed out to reporters at a press conference in Kinshasa, shows Ventora agreed to transfer to the state oil permits for Blocs 1 and 2 of Lake Albert, in the country's northeast, and mining permits for three projects: Moku Gold, Iron Mountain, and Sanzetta.

The deal shows Congo agreed to pay Ventora 240.7-million euros ($251.6-million) to settle "debts owed to Ventora", while Ventora agreed to pay 57-million euros to Congo's State mining company Gecamines to settle royalties owed to it.

The Feb. 24 agreement was signed by Congo Justice Minister Rose Mutombo Kiese and Ventora Development manager Henri Tungavo Ntoko.

Congo Finance Minister Nicolas Kazadi said the deal was made possible because Ventora was stuck between the dispute with Congo on one hand, and US sanctions on the other.

"Because they helped deliver this result, we see the US sanctions as beneficial and salutary, helping advance our country's cause, but at the same time, if the sanctions continue it will threaten our ability to exploit these assets," he told reporters at the press conference.

Kazadi said the deal was "urgent", partly because the assets include oilfields in Lake Albert, and the scope to exploit oil resources is "relatively limited" due to the global push to decarbonise.