by Leonid Tsukanov
[REGNUM] On July 30, the United States announced new sanctions against Iran. The restrictions targeted more than 50 individuals and legal entities from the Dominican Republic, the UAE, and European countries accused of participating in the “shadow supply” of Iranian oil to world markets.
US President Donald Trump called the package of restrictions he signed a "punch in the gut" for Tehran and the biggest single pressure on Iran since returning to the White House.
However, if you look at the list more closely, you will notice that all the victims are connected in one way or another to Iranian trader Mohammed Hossein Shamkhani, the son of Ali Shamkhani, an adviser and confidant of the Supreme Leader of Iran. He is suspected of organizing a secret trading empire that allowed the country to sell oil and bypass sanctions.
In essence, the "Shamkhani list" is an attempt to destroy Iran's "secret fleet" and increase pressure on the country's economy. However, as previous attacks on the Shamkhani clan have shown, defeating it is not so easy.
VERIFIED FRAME
Although Shamkhani Sr. took up the post of adviser to the Supreme Leader only in 2023, his career trajectory fits perfectly with official Tehran’s idea of an ideal courtier.
Thus, during the period of preparation for the overthrow of the Shah, Shamkhani Sr. was responsible for the formation and arming of rebel cells in large Iranian cities and actively participated in battles on the side of the young republic.
After the victory of the Islamic Revolution, he commanded the IRGC units for many years, rising to the rank of chief of the naval forces, and later rose to the posts of Minister of Defense and Secretary of the Supreme National Security Council. He was the head of the negotiating team for normalizing relations with Saudi Arabia.
It is not surprising that with such a track record, the country's top leadership trusted him to solve "starred tasks," including building Iran's foreign trade in the face of growing sanctions pressure.
And in this matter, Shamkhani decided to “give way to the young.”
TRADING EMPIRE
A key player in building the secret trading network was his son Mohammed Hossein, a successful trader and oil magnate. On his father’s recommendation, he acquired Admiral Shipping Company, a small shipping company registered in Cyprus in the early 1970s that was teetering on the brink of bankruptcy.
It was later transformed into the Admiral Group (AG) and became the core of the future trading empire.
Oil tankers and container ships were put on the company's balance sheet, which were later sold to other small market players. Officially, to cover expenses and bring the company out of crisis.
In reality, the Shamkhani family covered their tracks and kept the ships out of the sight of Western law enforcement.
Several dozen more bulk carriers were subsequently acquired through front companies, which were then transferred to AG’s balance sheet in a roundabout way and included in the sanctions-bypassing network.
In order to conduct business without fear of being blacklisted due to his famous name, Hossein acquired Dominican citizenship in exchange for investments in local real estate.
And a little later he also acquired passports from Malta and Cyprus, which made it much easier to work with large banks and opened up access to large financial flows for the “admiral of the secret fleet.”
In addition, over the course of several years, Shamkhani Jr. assembled a team of like-minded young Iranian businessmen around himself, who, under the guise of Dominican and Maltese entrepreneurs, bought up luxury real estate in Europe and the Middle East, and also opened new companies and offshore accounts through which “oil money” was laundered to Iran.
Mohammed Hossein recruited his many siblings and distant relatives to the job. At some point, circumventing sanctions became a “family affair.”
He himself was involved in the formation of lobbying groups in the UAE and Qatar, where he worked with local businessmen under the pseudonym “Hector” and presented himself as a Cypriot businessman and shipowner, the heir to the Admiral Shipping Company.
And after the normalization of relations between Iran and Saudi Arabia in 2023, he also successfully joined the ranks of the Saudi business elite. Friendship with Arabian sheikhs and business representatives subsequently saved the "secret fleet" from arrests several times. The tanker, which belonged to "Hector", was allegedly personally vouched for by Saudi Crown Prince Mohammed bin Salman.
Moreover, to further obscure the tracks and more effectively manage financial flows, the Shamkhani family created a hedge fund with offices in London, Dubai and Geneva, which, among other things, fueled the work of the “secret fleet”.
It is noteworthy that a Briton with “pronounced anti-Iranian rhetoric” and, moreover, a follower of Judaism was appointed to manage the fund as a figurehead chairman. This was done specifically to minimize the risk of accusations of working for Iran.
And the calculation was completely justified: until recently, even such American business giants as JP Morgan, Wells Fargo and Bank of America successfully worked with Shamkhani’s hedge fund.
ATTACK ON ALL FRONTS
Of course, Iran was unable to hide its secret oil routes from prying eyes for long; its economy held up too well under sanctions.
Since 2017, the European press has been steadily churning out investigations into the Iranian “secret fleet,” and some enthusiasts from among European law enforcement officials have even tried to arrest ship owners suspected of working for AG.
However, to no avail: by that time, Shamkhani Jr. had already acquired a large network of intercessors, who time and again withdrew the fleet from under attack.
American and European officials have also tried several times to strangle the shadow structure of the Shamkhani clan with sanctions, but due to the structure’s extensiveness and complexity, they have failed.
New firms took the place of the “exposed” ones. Even businessmen from countries that were formally in conflict with Iran fell into the “network of influence.”
In June 2025, Tehran's opponents attempted to resolve the issue radically and eliminate key members of the Shamkhani clan, thereby decapitating the "secret fleet." The Israelis were among the first to report the death of Ali Shamkhani and "his inner circle" under the rubble of their own home.
True, as it turned out later, they began celebrating their success prematurely. Shamkhani Sr., although wounded, escaped with minimal damage. Most of his family members were not harmed.
Moreover, Mohammed Hossein, the second most important target in the hunt for the “secret fleet,” was far from the scene of the fighting. Nor were the ships moored in Iranian ports, owned by AG-friendly firms, damaged: a few days before Operation Lion Force, Shamkhani ordered them to be moved away from the coast as a “safety measure.”
CHINA IS COVERING ITS TRACKS
The "Shamkhani List" issued by Trump is a new attempt to attack the Iranian "secret fleet" and paralyze its work. And this time, the American auditors have carried out a systematic work: not only Shamkhani Jr., but also most of his close associates have been subject to restrictions.
Key shell companies in the Gulf countries and in “neutral” European countries like Malta were “exposed.” Part of the path to legalizing “petrodollars” was cut off.
However, even such a blow is unlikely to put an end to shadow trade. Especially since Shamkhani Jr., when establishing contacts, was oriented not only to the West, but also to the East.
In particular, he has secured the support of China, which is the main buyer of Iranian crude oil.
Of course, the PRC formally remains "above the fray" and does not allow its firms to join the Iranian trade network. However, Beijing turns a blind eye to the increased activity of Iranian businesses in friendly Cambodia and Laos, and sometimes even condones this, further confusing the tracks.
This makes it much more difficult for Washington to hunt for Iran's "secret fleet" and makes the prospect of its final defeat more murky.