Bloomberg reports that Hossein Shamkhani, the son of Ali Shamkhani, a senior figure close to Supreme Leader Ali Khamenei, has used Dominica’s citizenship-by-investment programs and a lobbying firm in Washington, D.C., to circumvent sanctions and gain substantial economic benefits, including purchasing property outside Iran.
According to the report published on Monday, December 30, Hossein Shamkhani gained access to the international banking system through his Dominica citizenship and maintained his access via channels established in the UAE and Washington.
The small Caribbean nation of Dominica has issued passports to foreigners in exchange for significant payments. This initiative has injected billions of dollars into Dominica’s economy and provided easy second citizenships to individuals whose primary nationality might be problematic.
Among those participating in this six-figure-cost program were a group of Iranians, including Hossein Shamkhani, who, according to Bloomberg, leads strategic businesses in oil and arms trade for Tehran and Moscow.
Shamkhani also manages an investment fund operating in global financial hubs.
Hossein Shamkhani, whose father is a senior advisor to Khamenei, has made significant efforts to keep his business interests confidential.
The Bloomberg report illustrates how he managed to integrate his companies into the Western financial system.
The core entities in Hossein Shamkhani’s network have been responsible for delivering Iranian weapons to Russia. His network operates from cities such as London, Geneva, Dubai, and Singapore, establishing ties with some of the biggest names in the financial world.
Alongside Shamkhani, other Iranians who obtained Dominica passports include a ship captain named Alireza Derakhshan, known as “Captain D,” affiliated with the Milavos Group; Mahdyar Zare Mojtahedi, senior manager of the Ocean Leonid investment fund; and Hossein Ghorbani-Zadeh, a senior associate at the Golden Nest Group. They assisted Shamkhani in forging global banking connections.
The Dominica program served as a platform for Shamkhani and his associates to transform the “Admiral Group” into a multi-billion-dollar business empire encompassing dozens of companies.
The Admiral Group refers to a business enterprise founded by Hossein Shamkhani and his brother Hassan. According to the report, the name was chosen in honor of their father’s military rank.
Alireza Derakhshan obtained Dominica citizenship in 2009. His name also appears in a business registry in Turkey as a Dominica citizen. In the UK, company records show Zare Mojtahedi and Ghorbani-Zadeh registered as Dominica citizens as well. In all these cases, there is no mention of Iran in the documents.
Bloomberg notes that in private discussions with their American counterparts, some Emirati officials, including Yousef Al Otaiba, the influential UAE ambassador to Washington, have expressed opposition to sanctions targeting Shamkhani.
The report also states that some officials in Joe Biden’s administration have privately acknowledged that keeping oil prices low and avoiding a trade war with China have taken precedence over targeting prominent figures in Iran’s oil market, such as Shamkhani.
The report also highlights a Washington-based lobbying firm, Qorvis, as a key player in Hossein Shamkhani’s campaign to protect his business interests.
Bloomberg states that Qorvis has played a significant role in Shamkhani’s efforts by providing strategic advice and facilitating negotiations with American officials. The revelation of this firm’s involvement has sparked significant reactions among U.S. observers of Iranian affairs.
