The US has imposed sanctions on an Indian businessman, his wife and several companies linked to them for allegedly helping Iran evade international restrictions on its oil exports through fraudulent maritime registrations. Announced by the US Treasury Department on Wednesday, the measures target Chandigarh-based Suniel Kumar Sharma and his wife, Jaspreet Preeti Shahid, accused of running a network that provided false ship registrations and certifications to vessels transporting Iranian petroleum.Two other Indian nationals, Ashwani Kumar Dhiman and Ishwinder Singh, have also been sanctioned for their alleged roles as directors of businesses connected to the couple.
Nine India-linked entities have been named in the action.Separately, Washington has targeted Turkey-based Fugo Ground Services Inc, accusing it of providing ground-handling and other services to six US-sanctioned Iranian airlines, including Iran Air Tour, Saha Airlines, Sepehran Airlines, Varesh Airlines, Taban Airlines and Ata Airlines Company.Washington said the network helped Iran's shadow fleet transport oil while concealing the vessels' identities and ownership through fraudulent maritime documentation. Some of the ships allegedly operated on behalf of the Iranian military and its proxies.
The action is part of US President Donald Trump's Operation Economic Outcast, a campaign aimed at cutting off Iran's oil revenues and restricting its ability to finance its war with the United States.US Treasury Secretary Scott Bessent issued a warning to individuals and businesses accused of supporting Tehran. "As we have said many times, under Operation Economic Outcast, you are either with us or against us," Bessent said. "We know where you are, and we will sanction those who continue supporting the Iranian regime, whether by land, sea, or air."WHO ARE THE INDIANS TARGETED BY THE US?At the centre of the sanctions is Suniel Kumar Sharma, whom the Treasury accused of operating a network of fraudulent maritime registries with the help of his wife, Jaspreet Preeti Shahid.According to the US department, the couple had been involved in maritime registration fraud since at least 2014. Their alleged operations involved setting up websites and organisations that claimed to represent the maritime authorities of different countries without authorisation from the governments concerned.These platforms purportedly offered services such as ship registration, seafarer training, certification and vessel classification.
Sharma's network allegedly claimed to provide flagging services on behalf of countries and territories including Aruba, Guyana, Mali, Mozambique, Malawi, Sint Maarten and Timor-Leste.A ship's flag identifies the country under whose laws it operates. Legitimate registration allows maritime authorities to monitor vessels and ensure they meet international safety and regulatory requirements.The Treasury alleged that Sharma and Shahid exploited this system by providing false registrations to vessels transporting Iranian oil, allowing them to operate under the identities of countries that had not authorised the registrations.WHAT THE SANCTIONS MEAN FOR THE INDIAN ENTITIESUnder the sanctions, the property and financial interests of the designated individuals and companies that fall within US jurisdiction will be frozen.
US citizens and businesses are generally prohibited from conducting transactions with them unless authorised by the Treasury's Office of Foreign Assets Control.The restrictions can also apply to other companies that are at least 50 per cent owned, directly or indirectly, by sanctioned individuals or entities.The Treasury said non-US individuals and businesses could also face consequences for facilitating transactions that violate US sanctions or helping others evade them.- Ends