In a recent report, Bloomberg describes Hossein Shamkhani, the son of Ali Shamkhani—advisor to Iranian regime’s supreme leader, member of the Expediency Council, former secretary of the Supreme National Security Council, and Khamenei’s representative in that council—as an Iranian oil tycoon who has covertly embedded himself in the heart of the Western financial system. He is reportedly one of those responsible for delivering weapons to Russia via the Caspian Sea. Bloomberg had previously published a report stating that Hossein Shamkhani, under the alias “Hector,” plays a role in smuggling Iranian oil, including to Russia, and referred to him as Iran’s oil smuggling kingpin.
Bloomberg: Shamkhani’s Son’s Influence in the International Banking System
Bloomberg writes that these transactions, which coincide with Russia’s increased use of Iranian weapons in attacks on Ukraine, are part of a vast global trade network that has generated immense wealth for Hossein Shamkhani. His father, Ali Shamkhani, served the longest tenure as the regime’s defense minister and remains a senior advisor to the regime’s supreme leader. Meanwhile, the names of Shamkhani’s other two children, Hassan and Zeinab, as well as his nephew and son-in-law, have appeared in financial corruption cases. Even his multi-billion rial bank account has made headlines.
According to Bloomberg’s new report, citing information from over 12 American, British, and European officials, as well as individuals with direct knowledge of these transactions, Hossein Shamkhani used a network of companies under his control—including Crios Shipping LLC, based in Dubai—to transport missiles, drone components, and dual-use goods across the Caspian Sea last year using at least two ships.
Informed sources say Russia pays for these shipments with oil cargoes, a form of barter trade that has become more common due to U.S. and European sanctions against both Russia and Iran’s regime.
Bloomberg states that Hossein Shamkhani’s corporate network manages more than one-quarter of Iran’s total weapons transfers to Russia. His commercial empire includes an investment fund with offices in London, Geneva, and Singapore, and a commodity trading company in Dubai that has done business with major Western oil firms.
The Iranian regime and Russia have acknowledged their growing defense cooperation but have not disclosed all details.
John Bolton, former U.S. National Security Advisor, had previously stated that the Shamkhani network is involved in drone supply deals for Russia’s use in Ukraine.
Shipments via the Caspian Sea
According to Bloomberg, starting from mid-2023, several ships belonging to Crios Shipping LLC—which previously operated in the Mediterranean and Black Seas—were moved to the Caspian Sea and began operating between Iran and Russia. The vessels Sea Castle and Sea Anchor are among them. Both ships have made at least five voyages from Iranian ports to Astrakhan, Russia.
Bloomberg reports that Shamkhani’s vessels often use flags from countries like Palau, which are on international blacklists. Additionally, details about these ships’ cargoes are limited due to the lack of official registration.
The Shamkhani network includes companies such as Oceanlink Maritime DMCC and Koban Shipping LLC, which are reportedly affiliated with Iran’s Ministry of Defense. The United States sanctioned Oceanlink in April.
