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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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Huge Power Outage Paralyzes Parts of Spain and Portugal

This photograph shows a flamenco dress factory without light and workers during a massive power cut affecting the entire Iberian peninsula and the south of France, in Seville on April 28, 2025. (AFP)
This photograph shows a flamenco dress factory without light and workers during a massive power cut affecting the entire Iberian peninsula and the south of France, in Seville on April 28, 2025. (AFP)
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Huge Power Outage Paralyzes Parts of Spain and Portugal

This photograph shows a flamenco dress factory without light and workers during a massive power cut affecting the entire Iberian peninsula and the south of France, in Seville on April 28, 2025. (AFP)
This photograph shows a flamenco dress factory without light and workers during a massive power cut affecting the entire Iberian peninsula and the south of France, in Seville on April 28, 2025. (AFP)

A huge power outage hit large parts of Spain and Portugal on Monday, paralyzing traffic, grounding flights, trapping people in elevators and leaving power operators scrambling to restore power to millions of homes and businesses.

Some hospitals halted routine work and the two countries' governments convened emergency cabinet meetings, with officials initially saying a possible cyber-attack could not be ruled out. Outages on such a scale are extremely rare in Europe, and the cause could not immediately be established.

Reuters witnesses said power had started returning to the Basque country and Barcelona areas of Spain in the early afternoon, a few hours after the outage began. It was not clear when power might be more widely restored.

Hospitals in Madrid and Cataluna in Spain suspended all routine medical work but were still attending to critical patients, using backup generators. Several Spanish oil refineries were shut down and retail businesses shut.

The Bank of Spain said electronic banking was functioning "adequately" on backup systems, though residents also reported ATM screens had gone blank.

"I'm in a data center, and everything has gone off. All the alarms popped up, and now we're with the groups, waiting to find out what happened," said Barcelona resident and engineer Jose Maria Espejo, 40.

In a video posted on X, Madrid Mayor Jose Luis Martinez-Almeida urged city residents to minimize their journeys and stay where they were, adding: "It is essential that the emergency services can circulate."

In Portugal, water supplier EPAL said water supplies could also be disrupted, and queues formed at stores by people rushing to purchase emergency supplies like gaslights, generators and batteries.

The main Portuguese electricity utility, EDP, said it had told customers it had no forecast for when the energy supply would be "normalized", Publico newspaper said. It warned it could take several hours.

Parts of France also suffered a brief outage. RTE, the French grid operator, said it had moved to supplement power to some parts of northern Spain after the outage hit.

Play at the Madrid Open tennis tournament was suspended, forcing 15th seed Grigor Dimitrov and British opponent Jacob Fearnley off the court as scoreboards went dark and overhead cameras lost power.

TRAFFIC JAMS

Spanish radio stations said part of the Madrid underground was being evacuated. There were traffic jams in Madrid city center as traffic lights stopped working, Cader Ser Radio station reported.

Hundreds of people stood outside office buildings on Madrid’s streets and there was a heavy police presence around key buildings, directing traffic as well as driving along central atriums with lights, according to a Reuters witness.

One of four tower buildings in Madrid that houses the British Embassy had been evacuated, the witness added.

Local radio reported people trapped in stalled metro cars and elevators.

Portuguese police said traffic lights were affected across the country, the metro was closed in Lisbon and Porto, and trains were not running.

Lisbon's subway transport operator Metropolitano de Lisboa said the subway was at a standstill with people still inside the trains, according to Publico newspaper.

A source at Portugal's TAP Air said Lisbon airport was running on back-up generators, while AENA, which manages 46 airports in Spain, reported flight delays around the country.

Such widespread outages are unusual in Europe. In 2003 a problem with a hydroelectric power line between Italy and Switzerland caused a major outage across the whole Italian peninsula for around 12 hours.

In 2006 an overloaded power network in Germany caused electricity cuts across parts of the country and in France, Italy, Spain, Austria, Belgium, Netherlands and as far as Morocco.