US Sanctions Indian Couple, Nine Firms for Alleged Iran Oil Evasion Network

The United States on Wednesday imposed sanctions on an India-based businessman, Suniel Kumar Sharma, his wife Jaspreet Preeti Shahid, and nine Indian companies. The US Treasury Department alleges that this network helped Iran evade international restrictions on its oil trade through maritime fraud.

Sharma and Shahid were identified by the US Treasury as the operators of a "vast criminal network" from Chandigarh. This network allegedly provided false flags and fraudulent maritime certifications to vessels transporting Iranian petroleum, including ships operating on behalf of Iran's military and its proxies. Indian nationals Ashwani Kumar Dhiman and Ishwinder Singh were also named as directors of associated businesses. AFP reported that the couple created websites falsely claiming to offer ship registration, flagging, seafarer training, and vessel classification services for various countries without authorization.

Alleged operations date back to 2014, when the couple reportedly attempted to impersonate Dominica's maritime flagging authority. In 2023, Sharma established Singapore-based Eswatini Maritime Affairs and International Ship Registry PTE Ltd. Despite being publicly disowned by Eswatini authorities, the organization allegedly continued providing registration services to vessels transporting Iranian oil. Websites falsely claiming services for Aruba, Guyana, Mali, Mozambique, Malawi, Sint Maarten, and Timor-Leste were also identified.

The nine India-based entities targeted include Oceaniek Technologies India, Aryavart Ship Management, Precept Trends, Polynesia Maritime, Alexarya Finserv, Alexarya Media and Entertainment, Viharaboating, and Aryavart Maritime and Educational Trust. The Treasury stated that Oceaniek Technologies India was used to set up fraudulent ship registries, and Shahid took over management of several network businesses as scrutiny of Sharma increased. These sanctions fall under the Trump administration's "Operation Economic Outcast," aimed at cutting off Iran's revenue from oil exports.

US Treasury Secretary Scott Bessent reiterated Washington's warning that individuals and organizations supporting Iran would face sanctions, stating on X that the administration would continue targeting those helping the Iranian regime. Bessent warned, "As we have said many times, under Operation Economic Outcast, you are either with us or against us." The Treasury also highlighted that fraudulent ship registrations allow vessels to evade international restrictions and maritime regulations, potentially exposing countries to financial and environmental liabilities due to a lack of valid insurance.

In a separate action on Wednesday, Washington sanctioned Turkey-based Fugo Ground Services Inc for allegedly supporting Iran's heavily sanctioned aviation sector. This broader campaign by the US aims to restrict Iran's oil revenues and economic networks amid ongoing tensions.

What to watch: Further actions by the US Treasury against entities supporting sanctioned regimes.

Editor's note: The draft is comprehensive, well-structured, and includes all relevant entities, names, and context provided in the source text.