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Iranian regime profits from Maduro’s stolen gold (May 11)
May 11, 2020

Man speaking; bars of gold on table
FILE: Nicolas Maduro, Venezuela’s president, speaks as he touches a stack of 12 Kilogram gold ingots during a news conference on the country’s cryptocurrency, known as the Petro, in Caracas, Venezuela, on Thursday, March 22, 2018. The U.K., Spain, France and Austria recognized Venezuelan National Assembly leader Juan Guaido as the countrys interim president on Monday, joining an international push led by the U.S. censuring Maduro and calling for new elections. Last week the embattled Maduro regime halted plans to ship 20 tons of Venezuelan gold overseas. The gold bars, which are worth about $850 million, had been weighed and separated for transportation, but will not be sent out anytime soon from the central banks vaults in Caracas, the person said. The blocking of the shipment comes just a week after the Bank of England denied Maduro officials request to withdraw $1.2 billion of gold stored there. Photographer: Carlos Becerra/Bloomberg via Getty Images


Mahan Air, Iran’s largest commercial airline, has been flying to Venezuela and leaving with tons of gold bars that the Maduro regime has stolen from the Venezuelan people, Secretary of State Michael R. Pompeo said.

Cartoon of man, woman carrying baby, watching person load gold onto a plane. Quote: "Nine tons of gold sure would buy us a lot of food."


“These flights must stop, and countries should do their part to deny overflights, just as many have already denied landing rights to this sanctioned airline,” he told reporters April 29.

More than a half dozen Mahan Air flights arrived in Venezuela in April, according to news reports. At least one flight carried chemicals for gasoline production to support the Maduro regime’s mismanagement of the country’s oil industry.



The Mahan Air flights to Venezuela defy Maduro’s own ban against arrivals enacted to slow the spread of COVID-19, according to the Associated Press.

The airline has already put the Iranian people and the broader Middle East at greater risk of the rapidly spreading disease. Mahan Air in February flew more than 55 round-trip flights to cities in China, defying the Iranian regime’s own stated ban against flights to China.

According to Bloomberg News, Maduro’s regime purchased the aid for the oil industry with 9 tons of gold, worth $500 million, loaded onto Mahan Air flights returning to Iran. The payment sent Venezuela’s published financial reserves plummeting to the lowest level in 30 years.

The United States has imposed sanctions against the two regimes, which both use their nation’s assets to enrich themselves rather than provide for the citizens.

U.S. sanctions seek to compel Iran’s leaders to stop pursuing nuclear weapons and funding terrorism. U.S. sanctions on Venezuela seek to block Maduro from profiting off illegal gold-mining and state-operated oil operations that fuel his criminal activity and human rights abuses.

plane on runway
A Mahan Air jet is seen at Simón Bolivar International Airport outside Caracas, Venezuela, on April 8, 2019. (© Carlos Garcia Rawlins/Reuters)


Hizballah, which an increasing number of Latin American countries recognize as a terrorist organization, also has links to Mahan Air. Most recently, Colombia and Honduras designated Hizballah as a terrorist group in January, while Paraguay and Argentina led the effort by designating Hizballah last year.

Argentina formally designated Hizballah as a terrorist group in July on the 25th anniversary of the largest terrorist attack in Latin America’s history. On July 18, 1994, an Iranian-backed Hizballah suicide bomber drove a van filled with explosives into the Argentine-Israelite Mutual Association community center in Buenos Aires, killing 85 people and injuring 300 others.