EU Sanctions Lakhani, Azeris for Role in Russia Oil Trade
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Article content(Bloomberg) — The European Union sanctioned a prominent Pakistani oil trading tycoon and an influential Azeri merchant, part of a fresh round of measures targeting Russia over its war against Ukraine. Sign In or Create an AccountEmail AddressContinueor View more offersArticle contentMurtaza Lakhani, a discreet but key figure in the global oil trade, was added to the bloc’s sanctions list for his alleged role in the Russian oil trade, the EU said. Etibar Eyyub, Valery Kildiyarov, Talat Safarov and Anar Madatli were also added.Article contentWe apologize, but this video has failed to load.Try refreshing your browser, ortap here to see other videos from our team.Article contentLakhani declined to comment, while Eyyub didn’t immediately respond to a request to do so.Article contentArticle contentA Bloomberg News investigation in 2023 documented how Lakhani, a Karachi native who was raised in England and Canada, played a central role in Russia’s global oil business. Article contentTop StoriesGet the latest headlines, breaking news and columns.There was an error, please provide a valid email address.Sign UpBy signing up you consent to receive the above newsletter from Postmedia Network Inc.Thanks for signing up!A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againInterested in more newsletters? Browse here.Article contentIn alliance with Rosneft PJSC boss Igor Sechin, Lakhani helped set up a web of firms to steer the country’s barrels to customers around the world in the wake of sanctions. At the time, lawyers for Lakhani said neither he nor any business in which he has an interest were trading Russian oil.Article contentRead: The Trading Tycoon Steering Russia’s Global Oil BusinessArticle contentMore recently, a feud between Lakhani and his Azeri competitors cost Rosneft and the Russian state billions of dollars, Bloomberg News reported in October. Article contentThe two players who were estimated to move the vast majority of Rosneft’s crude were trying to expose each other’s Russian links in a bid to trigger Western sanctions.Article contentRead: Russia’s Oil Business Takes a Hit From Fight Between Top TradersArticle contentA Rosneft spokesperson said at the time that all of its partners have solid reputations and hold strong positions in the global market but they couldn’t rule out the possibility that some people might spread false information to advance their own interests. Article contentAzeri national Eyyub was sanctioned by the UK in May but hasn’t been individually sanctioned by the US. Lakhani has not been designated by the US or the UK.Article contentArticle contentTrending Garry Marr: How raiding your TFSA before the end of year could save you thousands Personal Finance 'Why let one person in the States change your life?' For Canadian snowbirds, the stay or go dilemma gets complicated Real Estate The Federal Reserve’s rate cut was a clear signal to investors Investor Subscriber only. 'A difficult job, but we'll get there': How Immigration Minister Lena Diab is pushing for balance on one of Ottawa's most delicate files Subscriber only News Charles St-Arnaud: Canada must stop relying on consumers and focus on production to boost the economy Economy Share this article in your social networkCommentsYou must be logged in to join the discussion or read more comments.Create an AccountSign in Join the Conversation Postmedia is committed to maintaining a lively but civil forum for discussion. Please keep comments relevant and respectful. Comments may take up to an hour to appear on the site. You will receive an email if there is a reply to your comment, an update to a thread you follow or if a user you follow comments. Visit our Community Guidelines for more information. Garry Marr: How raiding your TFSA before the end of year could save you thousands Personal Finance 'Why let one person in the States change your life?' For Canadian snowbirds, the stay or go dilemma gets complicated Real Estate The Federal Reserve’s rate cut was a clear signal to investors Investor Subscriber only. 'A difficult job, but we'll get there': How Immigration Minister Lena Diab is pushing for balance on one of Ottawa's most delicate files Subscriber only News Charles St-Arnaud: Canada must stop relying on consumers and focus on production to boost the economy Economy