Britain takes action against Iranian oil tycoon’s London entity

The British government has targeted a London-based entity of Hossein Shamkhani’s Iranian oil trading empire as it steps up efforts to crack down on restrictions that circumvent the oil trade.

Last month, Bloomberg revealed Shamkhani’s role in the Iranian and Russian oil trade.

Shamkhani’s father, Ali, served as a naval commander for the Islamic Revolutionary Guard Corps, as defense minister and then as secretary of Iran’s Supreme National Security Council.

The publication highlighted that London-based Nest Wise is a prominent entity within the Shamkhani network.

Today it was reported that Companies House announced that Nest Wise Trading Ltd be removed and dissolved within months if it does not take the necessary steps, the publication quoted people familiar with the matter as saying.

The action was revealed to be due to the entity’s failure to provide sufficient information to regulators, who concluded that its beneficial owner is Shamkhani, as reported by Bloomberg.

Records show that Nest Wise’s business includes the sale of oil and petroleum products, fuels, ores, metals and industrial chemicals. The documents also show that during the formation of the London entity, Dubai-based Nest Wise Petroleum LLC was the sole listed shareholder.

The report outlined how the British government and Washington had been working for weeks to target entities suspected of circumventing oil trade restrictions.

The US has already sanctioned ships believed to be controlled by the Iranian businessman. His father was sanctioned by the US in early 2020.

Shamkhani denied most of the details in the Bloomberg report, including owning any oil companies, controlling a trading network or having a firm involved in commodity trading. IRAN or Russia.

After AM city

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