Putin paid Iran almost 4 tons of gold for drones
30 May 07:27
Moscow has handed over at least 1.8 tons of gold bullion totaling about $104 million to the Iranian company Sahara Thunder as payment for Shahed-136 drones. This is reported by the Agency with reference to the Washington-based research group C4ADS, which has gained access to the contract between the parties.
According to the published information, the handwritten form, dated March 16, 2023, refers to the supply of 1,788,402.2 grams of gold at a price of $58.32 per gram. The document was signed between the Iranian manufacturing company and the Alabuga Special Economic Zone in Tatarstan, where the drones were assembled. In addition, another contract dated April 5, 2023, contains another batch of 2,067,795.9 grams of gold (more than two tons), also intended for the Iranian side. However, the details of this shipment are currently unknown.
According to C4ADS analysts, the use of gold allowed to bypass restrictions related to financial transactions in US dollars, which could be blocked or complicated by sanctions imposed by the US Treasury. In addition, settlements in precious metals provide increased anonymity for the parties to the transaction.
However, Alabuga did not pay for supplies in gold alone. The report mentions a case when the Russian side transferred funds in the dirhams of the United Arab Emirates to an account in a Dubai bank. For this purpose, the UAE’s free economic zones were used, which provide tax preferences and simplified capital movement.
C4ADS also suggests that sanctioned entities, including Iranian ones, may have used cryptocurrency for payments. This, according to the researchers, is indicated by the correspondence of employees of another Iranian company, SAS, which is also under US sanctions. In one of the letters regarding the visit of Belarusian President Alexander Lukashenko to Tehran in March 2023, SAS representatives offered to pay for airport services with the Tether cryptocurrency.
Sahara Thunder came under US sanctions in April 2024. The reason was its ties to the Iranian Ministry of Defense and its assistance in supplying drones to Russia. The United States accused the company of serving as a front for Iran’s military and engaging in export operations not only with Russia, but also with China and Venezuela. According to Iranian registers, after the imposition of sanctions, Sahara Thunder began the process of liquidation. However, according to The Washington Post, it is highly likely that a new legal structure will soon be created to replace it.
