Iran’s Secretive Oil Trader To Liquidate UK Operations After Govt Crackdown

Ocean Leonid Investments Ltd, a hedge fund linked to secretive Iranian oil seller Hossein Shamkhani, has told its London workers that this can lunge into liquidation, Bloomberg has reported. 

The advance comes appropriate months after the UK authorities cracked down on the oil-trading kingpin’s empire, identified for transferring Iranian and Russian low all around the world. Previously,  Bloomberg reported that Companies House, the UK corporate register, issued find that London-primarily based Nest Wise Procuring and selling Ltd. is to be dissolved within months due to the entity’s failure to produce sufficient info to regulators, with UK authorities linking it to Shamkhani.

Shamkhani, aka Hector,  is the son of Ali Shamkhani, manual to Supreme Leader Ali Khamenei. His Dubai-primarily based  Milavous Community Ltd is speculated to comprise raked in billions of greenbacks for illegally promoting Iranian and Russian low all around the world. Washington and London were focusing on entities that they comprise were sidestepping oil-trading restrictions.

“Except motive is shown to the contrary, the Firm shall be struck off the register and dissolved now not lower than 2 months from the date shown above,” UK Companies House said in its find about Nest Wise. 

Per Companies House’ records, Nest Wise’s alternate entails the sale of petroleum and petroleum merchandise, fuels, ores, metals and industrial chemical substances. The filings additionally utter that in the future of the London entity’s incorporation, Dubai-primarily based Nest Wise Petroleum LLC used to be the sole shareholder listed.

Aid in August, Bloomberg published an exposé revealing how Shamkani’s secretive network has been working, dubbing the Iranian tycoon ‘The Kingpin Of Iran’s Oil Empire’, “Companies in his network additionally promote oil and petrochemicals from non-sanctioned nations and usually mix low from a host of jurisdictions, so even traders who test barrels would possibly perchance not be in a region to title the country of origin, the opposite folks said,” Bloomberg reported.

Bloomberg additionally reported that Washington has already sanctioned ships believed to be controlled by the Iranian businessman. His father Ali used to be sanctioned by the Trump administration in early 2020, despite the indisputable fact that Shamkhani beforehand instructed Bloomberg that his father “never had nor does he comprise anything else to design with my alternate activities.” 

By Alex Kimani for Oilprice.com

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