The United States has imposed sanctions on Chandigarh-based businessman Suniel Kumar Sharma, his wife Jaspreet Preeti Shahid and nine India-linked entities over allegations that they helped Iran evade restrictions on its oil exports through fraudulent maritime registrations.
Announced by the US Treasury Department on Wednesday, the action also targets two Indian nationals, Ashwani Kumar Dhiman and Ishwinder Singh, accused of serving as directors of businesses linked to the couple.
According to the Treasury, Sharma and Shahid had been involved in maritime registration fraud since at least 2014.
They allegedly operated websites and organisations that falsely claimed to represent the maritime authorities of countries including Guyana, Mali, Mozambique and Timor-Leste.
The network is accused of providing false ship registrations and certifications to vessels carrying Iranian oil, helping conceal their identities and ownership. Some vessels allegedly operated on behalf of Iran’s military and its affiliated groups.
The action is part of US President Donald Trump’s Operation Economic Outcast, aimed at restricting Iran’s oil revenues and limiting its ability to finance military activities.
Washington has also sanctioned Turkey-based Fugo Ground Services Inc over alleged services to six Iranian airlines already under US sanctions.
Under the measures, designated assets under US jurisdiction will be frozen, and US persons and businesses are generally barred from transactions with those named unless authorised.
The Treasury also warned that non-US entities facilitating sanctions evasion could face consequences.
