Niels Troost, the only European sanctioned for trading Russian oil, has launched a libel and slander lawsuit against New York-based corporate intelligence firm Arkin Group, accusing it of spreading disinformation on behalf of his former business partner, according to the Financial Times.
The legal battle stems from a bitter dispute between Troost and Gaurav Srivastava, whom Troost alleges falsely claimed to be a CIA operative to defraud him. The Financial Times reported last year that Srivastava promised to use his purported US intelligence connections to secure a US Treasury licence allowing Troost’s company, Paramount Energy and Commodities, to legally trade Russian oil following Russia’s invasion of Ukraine.
Srivastava denies ever claiming CIA ties and retained the Arkin Group—founded by CIA veteran Jack Devine—to counter these allegations. Troost’s lawsuit asserts that Arkin acted with “actual malice,” accepting Srivastava’s denials and launching a “devastating smear campaign” against him.
In March, Arkin managing director Victoria Kataoka appeared on a podcast with Srivastava, accusing Troost of orchestrating a “very shiny… sexy fake spy story” and a disinformation campaign. The lawsuit argues these public accusations were “untrue and defamatory,” ignoring credible evidence including Srivastava’s documented history of fraud and media reports.
The Financial Times’ December article included leaked recordings of conversations from May 2023, in which Srivastava appeared to discuss his work with US intelligence. Srivastava claimed the tapes were fabricated. Troost’s lawsuit includes transcripts and authenticated audio of 21 such recordings.
In one exchange, Srivastava allegedly tells Troost, “I can call anybody, can reach out to any state, any agency,” describing himself as part of a “Non-Official Cover” program. Another recording reportedly features Srivastava saying he recently spoke with CIA director Bill Burns and other Agency contacts who wanted him to collaborate.
While Srivastava denies that their partnership involved ongoing Russian oil trading, a May 2023 conversation submitted in court records him discussing plans to buy product from Russia, Iran, and Venezuela—with Troost noting that such trades required a licence.
The lawsuit also sheds light on the murky corporate intelligence world, accusing Kataoka of falsely portraying Srivastava as a victim of disinformation—a narrative then amplified by “pay-to-play media outlets.”
Troost was sanctioned last year by the UK and EU after the Financial Times revealed his company’s trading of Russian crude above a G7 price cap. Troost claims he continued trading only because Srivastava assured him of US government backing. He ended their partnership in May 2023 after concluding he had been deceived.
Troost alleges Srivastava defrauded him of at least $25 million during their 10-month venture, an accusation Srivastava denies. Arkin Group chair Jack Devine said he looks forward to the truth emerging through the US legal system and suggested the case will clarify Troost’s ties with the Russian government.
