Britain’s NCA secures over $5 million forfeiture from agricultural trader linked to suspected sanctions evasion

LONDON, August 27, 2026 — The National Crime Agency said ENEX Premium Trading Limited agreed to forfeit more than $5.2 million, equivalent to about £3.84 million, following a civil recovery investigation into suspected money laundering and sanctions evasion.

ENEX, an agricultural trading company registered in St. Kitts and Nevis and owned by Azerbaijani national Nadir Valiyev, transferred significant sums into recently opened UK accounts between July and September 2024. Valiyev told the bank that the money originated from his personal wealth and retained earnings from previous trading structures, including UAE-registered Burston Trading FZE.

The NCA obtained an Account Freezing Order in November 2024 after reports alleged that companies linked to Valiyev had been involved in shipments of stolen Ukrainian grain. Investigators subsequently identified a network of suspected front companies and bank accounts used to route transactions through UK electronic money institutions before conversion into cryptocurrency.

The agency said the frozen funds were traced to ENEX bank accounts in China that had processed tens of millions of pounds from suspected front companies between July and September 2024. Companies making payments into those accounts were subsequently designated under U.S. sanctions for facilitating illicit Iranian oil sales and revenue and transferring funds to Iran’s Quds Force.

The NCA said it suspects the forfeited money represents proceeds of money laundering. The action is a civil recovery settlement rather than a criminal conviction. Valiyev denied involvement in criminal activity, and the settlement does not constitute an admission of unlawful conduct by him or ENEX, or evidence of criminal conduct.

The case highlights the intersection of sanctions enforcement and anti-money laundering investigations, particularly where funds linked to U.S.-designated entities move through international banking networks and UK financial institutions.