Over the years, he has been a familiar figure not only among international traders but also within parts of the Greek shipping and refining sectors.
Before Russia’s full-scale invasion of Ukraine, Troost was among the world’s largest traders of Russian crude and refined oil products. Following the introduction of European Union sanctions on Russian energy exports, he publicly stated that he had ceased all such activity. However, subsequent journalistic investigations indicated that Russian fuels continued to reach European markets indirectly via Turkey, with a key role played by the oil terminal in Dortyol, southern Turkey, in which Troost had acquired a 40% stake.
From the Dortyol terminal, substantial volumes of refined products—most notably vacuum gas oil, a critical feedstock for diesel and gasoline production—were shipped onward to European Union member states. Greece emerged as one of the main destinations, with cargoes reportedly delivered to a Greek refinery. The issue eventually drew attention in Washington, where U.S. senators raised concerns that Russian oil, effectively “re-labelled” through Turkey and Greece, may even have found its way into fuel supplies used by vessels of the U.S. Navy. Troost has denied any involvement in these trade flows and has said that he exited the Turkish investment in 2023 in order to protect his reputation.
Yet the businessman who, according to investigative reporting, had managed to keep Russian oil flowing toward Western markets despite sanctions, would himself become the victim of an elaborate deception.
In a lawsuit filed recently in the United States, Troost alleges that he was defrauded by Indian businessman Gaurav Srivastava, who purportedly posed as a covert operative of the U.S. Central Intelligence Agency. According to the complaint, Srivastava convinced Troost that he could provide protection from U.S. sanctions by claiming to possess extraordinary influence within the American government.
To reinforce his credibility, Srivastava allegedly presented photographs showing himself alongside senior figures in international politics and security, including U.S. President Joe Biden and former NATO Supreme Allied Commander General Wesley Clark. The lawsuit claims that these representations were entirely fabricated.
Court filings further allege that Srivastava invented the role of “secret agent” as part of a scheme to take control of Troost’s company—valued at approximately $350 million—using its assets, among other things, to finance the purchase of a $24.5 million luxury residence in California. The result, according to the legal documents, was the collapse of Paramount Energy & Commodities, which has since entered liquidation.
The case of Nils Troost highlights how even seasoned players operating for years in the opaque and politically charged world of global energy trading can ultimately fall prey to more sophisticated fraudsters. Beyond its personal and legal dimensions, the story also illustrates a broader
