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News / UK-Sanctioned Oil Dealer Seeks The Assistance Of An Ex-Biden Aide To Avoid US Penalties

UK-Sanctioned Oil Dealer Seeks The Assistance Of An Ex-Biden Aide To Avoid US Penalties

Niels Troost, the founder of Paramount, pays lobbyist Ankit Desai $100,000 a month to avoid sanctions by the US over his dealing with Russian oil.

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With the help of Desai who worked in Senator Biden’s Staff Office in 2005, Swiss oil trader Paramount Energy & Commodities SA LLC has avoided potential sanctions by the US government, after experiencing the scrutiny of the British government over his dealing with Russian oil.

As for Niels Troost, the experienced Dutch trader has engaged Ankit Desai for his advice on whether the United States government is about to enforce sanctions against him and his companies, disclosed through a copy of the lobbying contract held with the US Department of Justice, stated media source.

The UK levied sanctions against a Dubai-based unit of Paramount in November 2023, and two months later imposed sanctions on Troost and his Geneva-based company as well.

The US administration itself has applied sanctions against companies deemed to be shipping Russian oil in violation of Western norms but is yet to target individuals who are believed to have been involved in the act.

The Declaration of Desai’s AND Partners LLC signed in Feb states the following “research on the discussions around possible sanctions managed by the United States Office of Foreign Assets Control on Troost’s various business entities and individuals associated with him”, and this will also play a role in finding and creating strong influences such as key US civilians and the government to support its personal and business interests. A large amount of operational expenses amounts to $100,000 a month.

Under the Foreign Agents Registration Act of the United States, Desai is obligated to register and reveal the deals he has signed with overseas traders like Troost, according to media reports.

UK sanctions were issued against Troost led by an investigation of Paramount Energy & Commodities DMCC  traded an oil type last year which usually saw the price exceed the agreed G7 cap which is potentially a violation of the restrictions that Western countries imposed on Russia to cut its oil revenues.

Renowned commodity merchant with headquarters in Geneva known as Paramount SA, has moved their commercial dealings with Moscow to companies in the United Arab Emirates, which does not include sanctions toward Russia at all.

Troost argued for years that he was not involved in the management of the Paramount DMCC holding and being incorporated in UAE, its capacity to follow restrictions imposed by the Western bloc is not required.

Read Also: US Sanctions Two Individuals And Entities From Russia For ‘maligns Campaigns’ Posing As News Outlets

According to the UK Treasury manifesto, Troost either was the actual beneficial owner or the boss of Paramount DMCC, and he was accused of providing a facility to trade the oil from Russia and irresponsibly getting away with the UK and G7 sanctions.

Troost’s media person denied commenting on any contract signed with Desai and cleared that Troost has stopped trading Russian oil.

“Niels Troost has no link with the Russian oil market directly or for any commercial concerns, on subsequent of the Paramount DMCC stopped marketing Russian oil since 1 August 2023,” he says.

As per media sources, Paramount SA voluntarily dissolved its operations this month, disclosing incorporate papers.

In 2017, Troost started the company Paramount SA which sold the ESPO-blend Russian crude oil, especially to China in most instances overthrowing the price threshold that the G7 was imposing. Ankit Desai, a lobbyist from the Democratic party, who has some connections with the energy industry, is helping Troost. Desai has a wealth of legislative affairs including from Cheniere Energy and Tellurian Inc. and has been in the proximity of well-known political leaders like Mark Warner and John Kerry.

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Sanctions

Industry

Trade and Supply Chain

Published Date

March 22, 2024

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