Bloomberg’s disclosure about Hossein Shemkhani in oil exports
Bloomberg wrote in a report that the Milavous Group in Dubai, led by Hossein Shemkhani, the son of Ali Shemkhani, a former advisor to Khamenei and former Secretary of the Supreme National Security Council, has earned billions of dollars from the sale of goods from Iran to Russia and some other countries.
Bloomberg wrote on Friday, September 9, that when the Milavous Group rented a floor in a luxurious tower in Dubai two years ago, few people had heard of this company. However, within a few months, this company gained significant influence in global energy markets and is now known as one of Iran’s oil sales sultans worldwide.
According to this report, which was prepared from statements of more than 12 informed sources, Shemkhani’s son is at the highest levels of management in this company. However, few traders know the real identity of Hossein Shemkhani, and they only know him by the name Hector.
Also, only a few traders fully understand the extensive international network of his.
According to individuals who are directly aware of Hossein Shemkhani’s activities, the Shemkhani Empire holds significant amounts of global crude oil exports from Iran and Russia.
According to statements from informed sources, companies in the network also sell oil and petrochemical products from non-sanctioned countries, and sometimes mix crude oil from different areas, making it difficult for buyers to identify the origin country even if they test the barrels.
Bloomberg’s report is based on interviews with more than 36 individuals familiar with the operations of Shamkhani’s network both inside and outside Iran, as well as on documents reviewed by Bloomberg.
Bloomberg wrote that Shamkhani’s son’s activities also indicate increased cooperation between Tehran and Moscow, even as global powers intensify sanctions against both countries.
Shamkhani’s rise also reflects the emergence of the economy in the shadow of the black oil fleet following the start of the Ukraine conflict.
The news agency added that Washington faces challenges in restricting this trade as Hossein Shamkhani is not under US sanctions, and the law of the United Arab Emirates does not prohibit companies from buying crude oil from Iran or Russia.
Some informed individuals also told Bloomberg that entities in the Shamkhani network engage significantly with Chinese buyers, and many of these transactions are in yuan and beyond the scope of US sanctions.
Informed individuals said that nonetheless, the United States has previously sanctioned ships believed to be under Shamkhani’s control, and the Federal Research Office and the US Treasury Department are investigating parts of his business network, including Milavos, which trade within the dollar system.
Mohammad Al-Hashemi, CEO of Milavos, responded to Bloomberg saying that the company has no connection with Shamkhani.
Hossein Shamkhani, in a statement issued by his lawyer, stated that he mainly works in logistics and has no involvement in the commodity industry as reported by Bloomberg. He mentioned that he conducts business in countries not under sanctions.
According to sources familiar with Milavos and the brochure reviewed by Bloomberg, Shamkhani’s influence is so extensive that products supplied by entities in his network have reached large multinational companies based in the United States and Britain.
Saeed Agangi, an Iranian researcher, told Bloomberg that Shamkhani Network can be considered one of the three major oil companies in Iran. They have a maritime fleet with dozens of oil tankers and engage in covert trade with major oil companies. If any of their entities are sanctioned, the entire oil market would be disrupted.
Individuals familiar with Shamkhani’s activities said that he effectively manages interconnected networks of companies, and Milavous Company is considered one of the parent companies in this group.
These individuals added that information related to commercial ownership, shareholding, and control can easily be hidden, and other executives are officially registered as owners and managers of the companies.
Hossein Shamkhani, born in Tehran, is now in his fifth decade of life.
According to archived profile information on LinkedIn, Shamkhani completed his university studies in Moscow and Beirut, and after returning to Tehran, obtained his master’s degree in Business Management.
Hossein Shemkhani has stated that my father has never had and does not have any connection to my business activities. Last year, Iran International reported that Hossein Shemkhani made over one billion dollars annually from Iran’s oil, gas, and petrochemical trade using his father’s influence.
Persian
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