Key facts
- Over 2.6 tonnes of cocaine were seized off the coast of Portugal.
- The drugs were found on a high-speed rigid inflatable boat.
- Four individuals were arrested: two Spaniards, an Albanian man living in Italy, and a Gibraltar resident.
- The estimated street value of the cocaine is €500 million.
- The operation was a joint effort involving Italian, Spanish, and Portuguese authorities.
Italian, Spanish, and Portuguese authorities intercepted a high-speed boat in the Atlantic Ocean carrying over 2.6 tonnes of cocaine, with an estimated street value of €500 million. Four individuals were arrested during the operation, which took place approximately 90 kilometers southwest of Cape Espichel, Portugal.
The arrested suspects include two Spaniards, an Albanian man residing in Italy, and a resident of Gibraltar. The wholesale value of the seized cocaine is estimated at €78 million, with potential retail revenues reaching €500 million once diluted for distribution. Authorities noted that organized crime gangs increasingly use such fast, rigid inflatable vessels, often referred to as 'go-fast' boats, to recover illicit cargoes dropped at sea by larger ships arriving from South America.
The operation, codenamed 'Buongiorno', was coordinated by Italian prosecutors in Brescia and involved intelligence sharing from the Maritime Analysis and Operations Centre – Narcotics (MAOC-N). The seizure is considered a significant blow to a criminal group dedicated to smuggling large quantities of cocaine into mainland Europe.