Etibar Eyyub: The Man Behind Nord Axis
Who is behind the shadowy company Nord Axis? He sits smoking Marlboro Lights in Dubai's Platinum Tower and rose from relative obscurity to orchestrating a billion-dollar sanctions-busting oil empire. The Azerbaijani-born trader in question is Etibar Eyyub, age 46. He started out as the right-hand man to the founder of Coral Energy (2Rivers), Tahir Garayev, the company that conveniently vacated the space that Nord Axis immediately occupied.
Eyyub reportedly told colleagues that his ambition was to make the Forbes billionaires list. Russia's invasion of Ukraine has presented him with the perfect circumstances to achieve this goal. His rapid ascent into the Russian oil market facilitated by a close relationship with Russian oligarch Igor Sechin. Eyyub and Sechin are said to have gone to the sauna and hunting together; Eyyub was one of the few close friends invited to attend the funeral of Sechin's son in St. Petersburg.
Eyyub, along with Garayev, operates a network of obscure companies to facilitate the export of Russian oil. These companies are registered in various locations, such as the UAE DMCC free zone and Hong Kong, making it difficult to track their activities.
Eyyub's work has been instrumental in helping Russia circumvent Western sanctions. He has been involved in the creation of complex webs of transactions and shell companies, allowing Coral Energy and its affiliates to continue exporting Russian oil despite sanctions.
Eyyub's activities have also been linked to other companies, such as Voliton, Guron Trading, and Pontus Trading, which continue to export Russian oil. His involvement in these companies has allowed him to maintain a low profile while still being a key player in the Russian oil industry.
To date, Eyyub has avoided direct sanctions despite his frequent travel to Moscow and close links to the Russian regime, but there are signs that justice may be starting to catch up with the Azeri opportunist. Information states that he was forced to abandon plans to build a luxury villa on the "hill of billionaires" in Cologny, as he is barred from transferring funds into Switzerland.
Architect designs for Eyyub's planned villa
In July 2024, Nord Axis's Russian activity came to an abrupt halt. This is most likely a temporary inconvenience, as reports indicate that further companies linked to Eyyub, namely Voliton, Guron Trading, and Pontus Trading, continue to keep the oil flowing out of Russia. However, with an increasing spotlight being cast on his activities, his Forbes list ambitions may have to wait.
