Treasury Sanctions India Network Helping Iran Ship Oil — SkimNews
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- U.S. Treasury sanctioned Suniel Kumar Sharma, his wife Jaspreet Preeti Shahid, two other Indian nationals who head the couple’s businesses and nine linked entities; the measures freeze U.S. assets and generally bar Americans from dealing with them.
- Suniel Kumar Sharma and his wife Jaspreet Preeti Shahid, based in Chandigarh, were accused of falsely representing the maritime authorities of Guyana, Eswatini and Laos; Treasury said their fake flags and certifications let sanctioned tankers carrying Iranian oil continue operating, including vessels serving Iran’s military and allied groups.
- Fugo Ground Services was accused of providing ground handling and other services to several U.S.-sanctioned Iranian airlines still flying to Turkiye, including Iran Air Tour and Saha Airlines.
- Suniel Kumar Sharma’s network dated back to at least 2014 and relied on websites built to resemble official national ship registries, according to Treasury.
- Office of Foreign Assets Control warned shipping companies about the sanctions risks of dealing with vessels sailing under false flags.
- Operation Economic Outcast, the Trump administration’s campaign to cut off oil revenue Iran uses to fund its war effort, includes the new sanctions; Treasury said the campaign had pushed the rial to new lows and driven Iranian inflation to about 90%.
Why it matters: The sanctions impose a direct cost on the designated Indian and Turkish actors by freezing U.S. assets and barring American dealings, while extending pressure around Iranian oil exports. The alleged network's 2014 origin and its reach into airline ground services show enforcement reaching both maritime and aviation links in Iran's overseas operations.
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