Oil Trader Faces Lawsuit Over Company Hit by US-Iran Sanctions
Mon, Nov 18, 2024 5:16 PM

Oil Trader Faces Lawsuit Over Company Hit by US-Iran Sanctions

A Flip by Avya Verma
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The energy trader seeking to buy UK gas assets from Shell Plc and Exxon Mobil Corp. was sued over allegations that he diverted money from an Iranian petrochemical company that was later banned from doing business in the US. Francesco Mazzagatti is accused in a London lawsuit of profiting from an indirect ownership of Mehr Petrochemical Co., an Iranian maker of plastic resin.

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