Focus on the BIG picture.
Wednesday, Jan 15, 2025
Outside the box.
Hossein Shamkhani: The Rise of an Oil Tycoon
Hossein Shamkhani, son of Iran's former national security chief Ali Shamkhani, has become a significant player in the global oil market despite stringent US sanctions. Operating under the pseudonym 'Hector', he runs the Dubai-based Milavous Group Ltd. The company has generated billions through trading commodities from Iran, Russia, and other nations, often obscuring the origin of the products.
Hossein Shamkhani, son of Iran's former national security chief Ali Shamkhani, has become a significant player in the global oil market despite stringent US sanctions.
Operating under the pseudonym 'Hector', he runs the Dubai-based Milavous Group Ltd. The company has generated billions through trading commodities from Iran, Russia, and other nations, often obscuring the origin of the products.
While Hossein is not personally sanctioned, several of his vessels face US Treasury actions.
His operations include over 60 ships and extend to major markets, supplying oil to giants like Sinopec, Chevron, and BP. However, enforcing sanctions on his network poses challenges due to its complexity and scale.
Operating under the pseudonym 'Hector', he runs the Dubai-based Milavous Group Ltd. The company has generated billions through trading commodities from Iran, Russia, and other nations, often obscuring the origin of the products.
While Hossein is not personally sanctioned, several of his vessels face US Treasury actions.
His operations include over 60 ships and extend to major markets, supplying oil to giants like Sinopec, Chevron, and BP. However, enforcing sanctions on his network poses challenges due to its complexity and scale.
