Italian, Spanish, and Portuguese law enforcement intercepted a high-speed vessel in the Atlantic carrying more than 2.6 tonnes of cocaine; four individuals were detained.

In a significant international operation in the Atlantic Ocean, Italian authorities announced on Monday the confiscation of over 2.6 tonnes of cocaine along with the arrest of four suspects.

ADVERTISEMENT ADVERTISEMENT

The arrested persons include two Spanish nationals, an Albanian man residing in Italy, and a resident of Gibraltar.

The street market value of the seized shipment is estimated at around €500 million, according to Italian law enforcement.

«The wholesale price of the cocaine is calculated to be about €78 million. After distribution to retail points and dilution, the narcotics could have yielded nearly €500 million in total revenue,» the statement declared.

Officials highlighted an increasing trend among organized crime groups to utilize so-called «go fast» boats—these are fast, rigid inflatable vessels measuring between 10 and 16 meters in length, equipped with multiple high-powered engines capable of exceeding speeds of 70 knots.

These boats enable criminal organizations to retrieve illegal shipments dropped at sea by vessels arriving from South America.

The speedboat was intercepted near the coast of Lisbon by Portuguese forces, in cooperation with their Spanish and Italian counterparts.

The intervention occurred on Thursday approximately 90 kilometers southwest of Cape Espichel, reported Portuguese police.