Media: EU sanctions Iranian oil trader linked to Russia’s shadow fleet

The European Union has imposed fresh sanctions on an influential Iranian oil trader, Hossein Shamkhani, over his alleged involvement in facilitating Russian oil exports amid ongoing efforts to undermine the Kremlin’s wartime revenues.

Shamkhani, the son of a senior adviser to Iran’s Supreme Leader Ayatollah Ali Khamenei, was added to the EU’s sanctions list on July 21, along with two of his Dubai-based firms, Admiral Group and Milavous Group Ltd, Caliber.Az reports per Bloomberg.

Brussels described him as “a central player” in Russia’s so-called shadow fleet—vessels that covertly transport oil in defiance of international restrictions.

“Mr Shamkhani is involved in an economic sector providing a substantial source of revenue to the Government of the Russian Federation,” the EU stated, pointing to his role in circumventing sanctions through illicit oil trading.

According to a previous investigation, the Shamkhani network has been instrumental in distributing both Russian and Iranian crude, using a web of shell companies and a hedge fund with operations in London, Dubai and Geneva.

The trader has repeatedly denied these claims.

This latest round of EU sanctions comes as the bloc tightens its crackdown on Kremlin-linked energy revenues. In addition to targeting individual actors, the EU has also lowered the price cap on Russian oil exports in an attempt to curb Moscow’s income from major buyers like China and India.

By Aghakazim Guliyev