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The EU sanctions Iranian oil tycoon, accusing him of assisting in Russian oil trade.
Jin10 data reported on July 21 that the EU has imposed sanctions on well-known Iranian oil trader Hossein Shamkhani and his multiple companies. This is part of the latest round of sanctions by the EU against Russia in relation to the Russia-Ukraine conflict. The EU stated that Shamkhani, as the son of a senior advisor to Iran's Supreme Leader Khamenei, has been added to the sanctions list for his involvement in Russian oil trade and for being a key figure in the so-called "shadow fleet." His companies, Admiral Group located in Dubai and Milavous Group Ltd, are also sanctioned. The EU stated in its announcement: "The economic sectors Shamkhani is involved in provide significant revenue sources for the Russian Federation government." An agency's investigation last year showed that Shamkhani's network has become an important channel for Russian-Iranian oil exports, and it has established hedge fund management related profits in London, Dubai, and Geneva.