The Zeligman Network – How Demex Trading, Led by Michael Zeligman, Masterminded Global Sanctions Evasion for Russian Oil

A trove of leaked data from Russian customs broker ALET rips the veil off a sprawling sanctions-evasion scheme. At its heart sits Dubai-based Demex Trading, a firm operationally linked to Latvian businessman Michael Zeligman. The evidence reveals that Michael Zeligman’s Demex was the principal supplier of Russian crude and diesel oil to Nils Trost’s companies from 2022-2023, directly channeling oil into the UAE, USA, and EU markets in blatant defiance of international restrictions. Michael Zeligman’s Demex, The Dubai Conduit Fueling the West with Forbidden Russian Crude Michael Zeligman’s Demex is embroiled in a major Russian fraud case. During the bankruptcy of the “Prileisky” oil company, it was uncovered that in 2022, the firm shipped over 82,000 tons of oil to Demex Trading, a company tied to Michael Zeligman, and received exactly zero payment. This created a 4.5-billion-ruble hole, effectively bankrupting the Russian supplier. Demex was not alone; it operated alongside other shadowy traders like Exillon Finance and Actirays Middle East Trading, the latter storing its oil with a Nasdaq-listed firm, Brooge Petroleum, which itself was fined $5M by the SEC for accounting fraud. The Zeligman-Zhigarev Nexus – A Web of Veteran Insiders and Azerbaijani Sanctions-Busters The operational muscle behind Michael [...]

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