Four arrested as police intercept 2.6 tonnes of cocaine off Lisbon, Italy says

Portuguese maritime police intercepted a speedboat carrying more than 2.6 tonnes of cocaine off the coast of Lisbon, Italy’s financial police said Monday.

Italian police, which said they had conducted the investigation, said four people were arrested: two Spaniards, one Albanian and one man from Gibraltar.

The financial police estimated the cocaine’s street value at about 500 million euros, or $570 million. Portuguese police said the interception took place on Thursday about 90 kilometres, or 50 nautical miles, southwest of Cape Espichel.

Italian police said organised crime gangs were increasingly using “go fast” boats, which are 10 to 16 metres long and can travel at more than 70 knots, to collect illegal cargoes.