Washington announced new economic measures on Wednesday targeting a network of entities and individuals in India and Turkiye accused of aiding Iran. The US Department of the Treasury stated that the actions are directed at a criminal network operated from the northern Indian city of Chandigarh by Suniel Kumar Sharma and his wife, Jaspreet Preeti Shahid.
Authorities also sanctioned two other Indian nationals who manage businesses for the couple, along with nine entities connected to Sharma. The pair falsely purported to represent maritime authorities for nations including Laos, Eswatini, and Guyana, according to the Treasury.
Investigators found that the network issued fraudulent flags and certifications enabling sanctioned tankers carrying Iranian oil to keep moving. These vessels included ships operating on behalf of the Iranian military and affiliated groups.
The illicit operation has functioned since at least 2014, using websites designed to mimic official national ship registries. The Treasury also penalised Fugo Ground Services, a company based in Turkiye.
The Turkish firm provided ground handling and related support to US-sanctioned Iranian airlines operating flights to Turkiye, such as Saha Airlines and Iran Air Tour. The Treasury’s Office of Foreign Assets Control issued a warning to global shipping firms regarding the penalties tied to vessels using false flags.
Treasury Secretary Scott Bessent stated that Washington will persist in targeting anyone providing support to Tehran. The penalties freeze any assets held within the United States by the designated parties and generally prohibit Americans from conducting business with them.
These restrictions form part of the Trump administration initiative known as Operation Economic Outcast, which seeks to sever the petroleum revenues Iran uses to finance military operations. The department reported previously that the campaign pushed the Iranian rial to record lows and elevated inflation to approximately 90 percent.
The announcement followed the outcome of US midterm elections, where Democrats secured control of both chambers of Congress.
