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Israel Reveals Secret Iranian Gold Smuggling Trade to Finance Hezbollah

Israeli Defense Minister Yoav Gallant
Israeli Defense Minister Yoav Gallant
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Israel Reveals Secret Iranian Gold Smuggling Trade to Finance Hezbollah

Israeli Defense Minister Yoav Gallant
Israeli Defense Minister Yoav Gallant

Israeli Defense Minister Yoav Gallant recently issued an order to uncover a gold smuggling operation between Iran and Venezuela that is funding Lebanon’s Hezbollah terror activity, bypassing sanctions.

In a signed document, the Minister revealed that dozens of kilograms of gold were smuggled on an Iranian Mahan Air flight, which is subject to US sanctions, from Venezuela to Europe and Syria. The funds from the smuggled gold were transferred to Hezbollah.

It said the smuggling ring was uncovered during a joint effort between the National Bureau for Counter Terror Financing of Israel (NBCTF) and the Defense Ministry, along with the Israel Police and the Tax Authority.

The document published the names of a number of figures involved in the smuggling operation, mainly Badr Ad-Din Naimi Musawi, an Iranian businessman who owns two real estate companies registered in Britain, “Lotus Universal” and “Strattonview Properties Limited”, and the international trade company “Trading Acs” registered in Dubai.

Musawi is also a key player in the Iranian efforts to use several Latin American countries as intermediaries to evade sanctions on its oil exports and financial transactions, the document noted.

It also mentioned the name of Hamid Evranjad, the CEO of Mahan Air, who is also part of an effort by Iran to strengthen ties in South America and ultimately use those ties to bolster its own terrorist activity.

Also part of this gold trade scheme are high-ranking Hezbollah officials, including Ali Kasir, the representative of Hezbollah's Economic Affairs Ministry in Tehran, as well as Mohammad Kasir, the head of Hezbollah's logistics unit who dealt with the transfer of funds after the gold had been turned into cash.

“Iran sells oil to Venezuela to evade US, European and international sanctions. The price of oil is paid in gold,” the Israeli Minister’s document said.

The Iranian Revolutionary Guards’ Quds Force and Hezbollah then smuggle the gold from Venezuela to Iran to finance the activities of Tehran-backed militias in Lebanon, it added.

After the gold reaches Iran, it is transferred to currency in Türkiye, and perhaps other countries in Eastern Europe, as well as in Syria. The funds resulting from the deal are then sent to the Lebanese Hezbollah party.

The Israelis estimate the profit generated from this gold trade scheme at millions of dollars.

The Minister’s order came after an Iranian plane was detained in Argentina in mid-2022 on suspicion of also transporting gold.

The plane was registered under the commercial name of Emtrasur, a Venezuelan state-owned company. However, the plane was owned by Mahan Air of Iran, which the US government has sanctioned. It was granted to Venezuela for evading sanctions.

The plane made at least six trips between Caracas and Tehran, and between Moscow and Tehran in the winter and spring of 2022.

In June, a Washington court had transmitted a request to Argentine authorities to confiscate the cargo plane.

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World

Iran Summons French, German, Italian, UK Envoys Over Support for Protests

Cars burn in a street during a protest over the collapse of the currency's value, in Tehran, Iran, January 8, 2026. Stringer/WANA (West Asia News Agency) via Reuters
Cars burn in a street during a protest over the collapse of the currency's value, in Tehran, Iran, January 8, 2026. Stringer/WANA (West Asia News Agency) via Reuters
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Iran Summons French, German, Italian, UK Envoys Over Support for Protests

Cars burn in a street during a protest over the collapse of the currency's value, in Tehran, Iran, January 8, 2026. Stringer/WANA (West Asia News Agency) via Reuters
Cars burn in a street during a protest over the collapse of the currency's value, in Tehran, Iran, January 8, 2026. Stringer/WANA (West Asia News Agency) via Reuters

Iran on Monday summoned diplomats in Tehran representing France, Germany, Italy and the UK to object to what it described as support by those countries for the protests that have shaken the country, its foreign ministry said.

The diplomats were shown a video of the damage caused by "rioters" and told their governments should "withdraw official statements supporting the protesters", the ministry said in a statement quoted by state television.

In Paris, the French foreign ministry confirmed that "European ambassadors" had been summoned by Iran.

World

Iran’s Traders, Frustrated by Economic Losses, Turn Against Clerics

Cars burn in a street during a protest over the collapse of the currency's value, in Tehran, Iran, January 8, 2026. Stringer/WANA (West Asia News Agency) via Reuters
Cars burn in a street during a protest over the collapse of the currency's value, in Tehran, Iran, January 8, 2026. Stringer/WANA (West Asia News Agency) via Reuters
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Iran’s Traders, Frustrated by Economic Losses, Turn Against Clerics

Cars burn in a street during a protest over the collapse of the currency's value, in Tehran, Iran, January 8, 2026. Stringer/WANA (West Asia News Agency) via Reuters
Cars burn in a street during a protest over the collapse of the currency's value, in Tehran, Iran, January 8, 2026. Stringer/WANA (West Asia News Agency) via Reuters

Iran's bazaar merchants, the trader class who were the financial backbone of the 1979 revolution, have turned against the clerics they helped bring to power, fueling unrest over an economy that has morphed into full-blown anti-government protests.

Frustration among bazaar merchants, from small-scale shopkeepers to large wholesale traders, has grown as their political and economic clout in Iran has diminished over the decades while the elite Revolutionary Guards have tightened their grip on the economy, building sprawling and tightly held networks of power.

"We are struggling. We cannot import goods because of US sanctions and because only the Guards or those linked to them control the economy. They only think about their own benefits," said a trader at Tehran’s centuries-old Grand Bazaar, speaking on condition of anonymity.

The wave of protests that has engulfed the country, posing one of the toughest challenges ever to the clerical leadership, erupted in late December in Tehran's Grand Bazaar, where hundreds of shopkeepers denounced the sharp fall in the rial currency.

The demonstrations quickly swelled and turned political, challenging the Islamic Republic's legitimacy. Protesters burned images of Supreme Leader Ali Khamenei and chanted "Death ‌to the dictator" - ‌undeterred by security forces armed with tear gas, batons, and, in many cases, live ammunition.

Iran’s ‌rulers, ⁠while acknowledging economic difficulties, have ‌blamed their longtime foes the US and Israel for fomenting the unrest. They appear intent on holding onto power at any cost, backed by a security apparatus refined over decades of suppressing ethnic revolts, student movements, and protests over economic hardship and social freedoms.

A combination of international sanctions and the Guards' sprawling economic empire has limited the government's ability to ease the dire economic situation.

Tehran-based analyst Saeed Laylaz said the government has lost control over the situation.

"What is striking is that the unrest began in the bazaar. For merchants, the core issue isn’t inflation - it’s price volatility, which leaves them unable to decide whether to buy or sell," he said.

Economic disparities between ordinary Iranians and the clerical and security elite, along with economic mismanagement and state corruption - ⁠reported even by state media - have fanned discontent at a time when inflation is pushing the price of many goods beyond the means of most people.

Iran's rial currency has lost nearly ‌half its value against the dollar in 2025, with official inflation reaching 42.5% in December.

CONTROL ‍OF SECTORS FROM OIL TO CONSTRUCTION

Created by the republic's ‍late founder Khomeini, the Guards first secured an economic foothold after the Iran-Iraq war in the 1980s, when clerical rulers allowed them ‍to invest in leading Iranian industries.

Their influence expanded exponentially over decades, benefiting from Khamenei's full backing and from opportunities created by Western sanctions, which effectively excluded Iran from the global financial and trading system.

The Guards now control vast sectors of the economy, from oil to transportation, communications, and construction.

Another trader said the crisis was not over, as the Guards have long proved adept at defending their economic interests.

"The government wants to resolve the problem, but it lacks the means and power in this system. The economy is not controlled by the government," said the trader, a 62-year-old carpet seller in Tehran.

All aspects of the country's sanctions-hit oil business have come under the growing influence of the ⁠Guards - from the shadow fleet of tankers that secretly ship sanctioned crude, to logistics and front companies selling the oil, mostly to China.

"No one knows how much of the oil money that the Guards get from selling Iran’s oil returns to the country ... they are too powerful to be questioned about it,” said a senior Iranian official, who asked not to be named.

During his 2013–2021 presidency, pragmatist Hassan Rouhani repeatedly clashed with the Guards, accusing them publicly of resisting budget cuts, while his attempts to curb their commercial networks and assets were largely frustrated.

THE ESTABLISHMENT RELIES ON THE GUARDS TO END UNREST

Even as it has relinquished economic power, the clerical establishment has relied on its loyal forces - the Guards and its affiliated Basij paramilitary - to violently crush ethnic uprisings, student unrest, and protests over economic hardship, preserving the political order.

"Given the sensitive circumstances when the country faces foreign threats, Khamenei cannot upset the Guards by curbing their economic influence. The establishment needs them to quell the protests and confront foreign threats," said an insider, close to Rouhani.

US-based rights group HRANA said it had verified the deaths of 544 people - 496 protesters and 48 security personnel - with 10,681 people arrested since ‌the protests began on December 28 and spread around the country. Reuters was unable to independently verify the tallies.

The authorities have not given numbers of casualties, but officials say many members of the security forces have been killed by "terrorists and rioters" linked to foreign foes, including the US States and Israel.

World

Greenland Says It Should Be Defended by NATO, Rejects Any US Takeover

A view of houses in Nuuk, Greenland, June 22, 2025. (AP)
A view of houses in Nuuk, Greenland, June 22, 2025. (AP)
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Greenland Says It Should Be Defended by NATO, Rejects Any US Takeover

A view of houses in Nuuk, Greenland, June 22, 2025. (AP)
A view of houses in Nuuk, Greenland, June 22, 2025. (AP)

Greenland's government said on Monday it will increase efforts to ensure the defense of the Arctic territory takes place under the auspices of NATO and again rejected US President Donald Trump's ambition to take over the island.

Trump has said the United States must own Greenland, an autonomous part of the Kingdom of Denmark, to prevent Russia ‌or China occupying the ‌strategically located and minerals-rich territory ‌in ⁠the future.

"All ‌NATO member states, including the United States, have a common interest in the defense of Greenland," the island's coalition government said in a statement, adding that it can in no way accept a US takeover of Greenland.

"As part of ⁠the Danish commonwealth, Greenland is a member of NATO and ‌the defense of Greenland ‍must therefore be through NATO," ‍the government said.

The European Union Commissioner ‍for Defense and Space Andrius Kubilius said earlier on Monday that any US military takeover of Greenland would be the end of NATO.

Trump first floated the idea of a US takeover of Greenland in 2019 during his first term ⁠in office, although he faces opposition in Washington, including from within his own party.

While Denmark has ruled Greenland for centuries, the territory has gradually been moving towards independence since 1979, a goal shared by all political parties elected to the island's parliament.

"We are a democratic society that makes our own decisions. And our actions are based on international law," Greenland's Prime Minister ‌Jens-Frederik Nielsen wrote on LinkedIn.