Corroborating the Connections in the Network
Corroborating the Connections: Uncovering Eyyub and Garayev's Oil Trading Network In our previous article, we exposed a network of companies linked to Etibar Dyyub and Tahir Garayev, suspected of being involved in sanctions-busting oil trading activities. Building on that investigation, we have continued to gather and analyze evidence, which corroborate and expand on our initial research. Today we are updating that list with companies that we have identified and verified through independent sources. this article presents this new information, including additional company connections, common ownership structures and incorporation dates, which sheds more light on the scope and complexity of Eyyub and Garayev's operations.
Corroborating Evidence We found several links between companies in Eyyub and Garayev's network. One example is Bellatrix Energy, a US-sanctioned company we previously investigated. Bellatrix is controlled by Bilal Aliyev, and Azerbaijani national who took control of the company early in the Russian invasion.
Aliyev is not only connectged to Bellatrix, but is also UBO of several other companies, including:
- Allegro Development Limited (owned by Lumira Captial Limitied FZE)
- Foxton FZCO
- Disentis Trading Limited / LLC FZ
These three companies were previously identified as trading Russian oil and linked to Eyyub and Garayev's network through their insurance and vessels. Aliyev is also UBO of:
- Alroy Holdings Limited
- Omni Marine and Transport
- Zenith Global Corporation Limited
- Zenrock Holding Limited
- Lumira Captial Limited FZE
Further investigation revealed that Alroy Holdings Limited is the parent company of Foxton FZCO and Zenith Global Corporation. Additionally, Zenrock Global Corporation Ltd and Disentis Trading Limited share a director, Abdulla Feruzabonu. As we have noted in our previous article, one pattern to look out for with these companies, is their being incorporated simultaneously. In this instance, Disentis Trading Limited was also incorporated on the same day as Wissol Commodities FZCO, another company linked to Eyyub and Garayev's network.
**More Connections Uncovered ** We found additional links between companies in Eyyub and Garayev's network. For example, four oil trading companies share the same Ultimate Beneficial Owner (UBO), Umid Mokhomojanov:
- Skyion Solutions FZE
- Newton Resources FZE
- EcoMatrix Oil and Commodity FZE
- Totcor Trade FZE
Mokhomodjanov is also the Director of Vault Energy Resources DMCC and the UBO of Sentura GLobal FZE and Navratan Ventrues FZE, which were incorporated on the same day - 28th November 2024.
The date of incorporation, 28th November 2024 is significant. On the same date , a host of other companies identified to us as being part of the network were also incorporated, presumably done so in a a single batch for administrative ease. As well as Sentura Global and Navratan Ventures, the following were also incorporated at the same time:
- Al-Tasameem Group FRZE
- Ardes Integrated FZE
- Astra EastNvigation FZE
- Bevon Integrated FZE
- Birchwood Resources
- Castleton Corporation FZE
- Ferrat Navigation FZE
- Helvetic Navigation FZE
- Heptagon International
- Heston Agency FZE
- Levian Industries FZE
- Shreevaani Exim FZE
Common UBOs and Directors Bevon Integrated and Helvetic Navigation share a UBO with Guron Trading Limited, a company connected to Bellatrix and sanctioned by the US (both companies which we have written about previously). The same UBO is also shared by Sierra Holding Ltd, Sarawi Exports FZE and Amalgam Market Solutions, all of which were highlighted to us recently.
Levian Industries FZE, Ferrat Navigation FZE, and Heston Agency FZE share a UBO with Blackford Corporation Limited, known to be involved in this network (whom we have written about previously). The same UBO also owns PrimeGrowth FZE and Kashmani Logistics FZE.
Ardes Integrated FZE and Heptagon International share a UBO with Augusta Commodity, another company linked to Eyyub and Garayev's network.
Other Significant Dates We found other dates with multiple company incorporations, including:
- May 2nd 2024: Skyon Solutions, Newton Resources, RR Alliance FZE, and TertraWaters FZE
- 28th December 2023: EcoMatrix Oil and Commodity, Fuel and OIl Dynamics, FusionFlux Energy, Tradestram FZE, OilPeak Products FZE
- 23rd January 2024: Totcor Trade, Arrada Energy FZE, Balmo Trading FZE, Fadas Trade FZE, Rockwell Energy FZE, Zion Trade Limited, and Foucher Trade Limited FZE
These companies also share common UBOs and directors between them, further highlighting the complexity and coordination of Eyyub and Garayev's network.
Uzbekistani Nationals and Other Connections There appears to be a possible Uzbek element to the network, as several Uzbekistani nationals are UBOs for multiple companies in the network, including:
- Abdikholim Uyldashov: Fusion Flux Energy, Fadas Trade, Tanzhouli Integrated FZE, RafflonLine FZE, Ethos Dynamics FZE and Colwhich Continental FZE
- Dastonbek Isakov: TradeStream FZE, ROckwell Energy, Ossydey Integrated FZE and Marinex Trade FZE
The Scale of the Network The network is vast and sophisticated, with many companies being setu up and shut down quickly to minimize the risk of sanctions. Evidences suggests employees with thins network often have their formal employer changed from company to company. Our investigation has uncovered a complex web of connections between companies, highlighting the need for continued scrutiny and investigation.
The linked list contains those companies highlighted to us, for which we could find corroborating evidence, as shown. However, there were also a number of other entities identified, for which we cannot find definitive evidence of their connection to the rest of the network. Nevertheless , as these were included amongst those which we have been able to independently confirm, it seems reasonable to conclude that they are also feasibly part of the network. With that in mind, we have decided to also list these entities, albeit with the caveat that they are, as yet, unproven. we will continue to investigate further, and would welcome any further information should it be provided to us.
