The purpose of this electronic alert is to inform the market of illicit gold shipping by the force QUDs of the body of the Islamic Revolutionary Guard (IRGC) and Hezbollah from Venezuela to Iran to raise funds for terrorist activities, facilitated by the sale of Iranian oil, in contravention of sanctions.


It has been reported that direct flights from Caracas (Venezuela) to Tehran (Iran) through Mahan Air, an Iranian airline of private property designated by the Office of Foreign Control of the United States Treasury (Ofac) In English), it is being used as an illicit channel to send gold that is then changed to Iranian oil, in violation of applicable sanctions. Then, gold is sold in Turkey and other countries in the Middle East, to generate funds for terrorist activities. The acquisition and shipping of Venezuela’s gold on behalf of the IRGC force that involves the following actors, designated by the OFAC:

● Ali Kassir-Representante of Hezbollah in Iran and designated by the USA of the US under the SDGT program (Global Sanctions Regulation against Terrorism)

● Muhammad Jaafar Kassir High Hezbollah official and appointed by the USA. UU under the SDGT program (Global Sanctions Regulation against terrorism)

● Mahan Air, an Iranian airline designated by the USA. UU. Under the following program: SDGT (Regulation of Global Sanctions against Terrorism), IFSR (-Ilegible- Regulation of Financial Sanctions) and NPWMD (Regulation of penalties for proliferators of weapons of mass destruction)
Market implications

Administrative agents might want to consider the risk typology described above as part of their reinforced diligence measures, when agreements are signed in certain regions. In addition, all market participants must be aware of the potential exposure to the risks of the counterparts of the entities mentioned above when they provide coverage of (RE) assure for oil and derived products, gold, metals and construction materials in certain countries (Turkey, United Arab Emirates and Lebanon). Reinforced measures of due diligence would be required if any of the entities mentioned above are involved, since the coverage provided could indirectly expose management agents to terrorism financing risks, money laundering and tax evasion.

Source » infobae