Key facts
- Over 2.6 tonnes of cocaine were seized off the coast of Portugal.
- The drugs were found on a high-speed ocean-going rigid inflatable boat.
- Four people were arrested: two Spaniards, a Gibraltar resident, and an Albanian man.
- The estimated street value of the cocaine is €500 million.
- The operation was a joint effort involving Italian, Spanish, and Portuguese authorities.
Authorities have seized more than 2.6 tonnes of cocaine in the Atlantic Ocean off the coast of Portugal, with an estimated street value of €500 million. The drugs were discovered aboard an ultra-fast ocean-going rigid inflatable boat, typically used by smugglers to recover illicit cargo dropped at sea by larger vessels from South America.
Four individuals were arrested on the vessel: two Spaniards, a resident of Gibraltar, and an Albanian man living in Italy. The operation, codenamed "Buongiorno", was conducted in cooperation with Spanish and Portuguese authorities, with Italian prosecutors in Brescia coordinating the investigation.
The wholesale value of the cocaine is estimated at €78 million, with potential retail revenues reaching €500 million once diluted for distribution. The seizure is credited with dismantling a criminal group dedicated to smuggling large quantities of cocaine into mainland Europe.