Translated with AI
Moscow has transferred at least 1.8 tons of gold bars worth about $104 million to the Iranian company Sahara Thunder as payment for the Shahed-136 attack drones, the Agency reported, citing the Washington-based research group C4ADS, which gained access to the contract between the parties. According to the published information, the hand-written form, dated March 16, 2023, speaks of the delivery of 1,788,402.2 grams of gold at $58.32 per gram. The document was signed between the Iranian manufacturing plant and the Alabuga special economic zone in Tatarstan, where the drones were assembled. In addition, another contract dated April 5, 2023, mentions 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 delivery remain unknown at the moment.
As C4ADS analysts note, the use of gold made it possible to bypass restrictions related to financial transactions in US dollars, which could have been blocked or complicated by sanctions from the US Treasury. In addition, settlements in precious metals provide increased anonymity for the participants in the transaction.
However, Alabuga paid for supplies not only in gold. The report mentions a case where the Russian side transferred funds in United Arab Emirates dirhams to an account in a Dubai bank. For this, the UAE free economic zones were used, which provide tax preferences and simplified capital movement.
C4ADS also admits that structures under sanctions, including Iranian ones, could resort to settlements in cryptocurrencies. According to the researchers, this is indicated by leaked correspondence between employees of another Iranian company, SAS, which is also under US sanctions. In one of the letters concerning the visit of Belarusian President Alexander Lukashenko to Tehran in March 2023, SAS representatives offered to pay for airport services with Tether cryptocurrency.
Sahara Thunder was sanctioned by the United States in April 2024 for its ties to the Iranian Defense Ministry and its assistance in supplying drones to Russia. The United States accused the company of serving as a front for Iran's military and participating in export operations not only with Russia, but also with China and Venezuela. According to Iranian registries, Sahara Thunder began the process of liquidation after the sanctions were imposed. However, as The Washington Post notes, it is highly likely that a new legal entity will soon be created in its place.
