US sanctions Chandigarh couple and Indian firms over alleged Iran shipping network
US Treasury alleges the India-based network supplied false flags and certificates to sanctioned vessels carrying Iranian petroleum.
The US Treasury on Wednesday sanctioned a couple based in Chandigarh, two other Indian citizens and nine linked entities over an alleged scheme to supply false flags and certifications to sanctioned ships carrying Iranian petroleum. The Straits Times reported the action in a Reuters story, and The Economic Times also reported sanctions on Indian and Turkish firms.
Treasury named Suniel Kumar Sharma and his wife, Jaspreet Preeti Shahid, as running what it called "the vast criminal network". The two other Indian citizens head two of the couple's businesses. Treasury said the vessels involved included some operating on behalf of the Iranian military and its proxies.
According to Treasury, the couple fraudulently claimed to represent countries including Guyana, Eswatini and Laos when issuing flags and certifications. It alleges Sharma's network bought web domains and built websites offering flagging, seafarer training and vessel classification in those countries' names. India-based firms managed by the couple were allegedly used to set up fraudulent flagging registries, and those firms were also sanctioned.
The Reuters report said vessels using false flags and fake maritime certifications can evade international safety and environmental rules and carry no indemnity insurance. Such ships could potentially cause billions of dollars in damage to the economies of countries whose waters they operate in. Treasury's Office of Foreign Assets Control also issued an alert warning industry of the sanctions risk of dealing with potentially false-flagged vessels.
The measures also cover Turkey-based Fugo Ground Services Inc. Treasury said it provided ground handling and other services to US-sanctioned Iranian airlines that still fly to Turkey, including Iran Air Tour, Saha Airlines, Taban Airlines and Ata Airlines.
The sanctions fall under the Trump administration's "Operation Economic Outcast", which aims to stop Iran selling oil to fund its war with the US and Israel. The US reimposed its blockade of Iranian ports on July 14 after a memorandum of understanding between Tehran and Washington to end the war broke down. Treasury said last week that its actions had driven the rial to new lows and pushed Iranian inflation to around 90 per cent.
"We know where you are," Treasury Secretary Scott Bessent said in a statement, adding that the US would sanction those who continue to support the Iranian government.
The announcement came a day after Democrats won control of both houses of Congress in midterm elections, with voters angry about the war and its effect on US inflation. Brett Erickson, managing principal of Obsidian Risk Advisors, said Washington "appears unwilling to take even the smallest step toward de-escalation".
President Donald Trump acknowledged on Wednesday that the war and a spike in gasoline prices had played a role in the election losses, but said the conflict was worth it. Oil prices fell sharply in volatile trading as investors weighed a possible end to the war.
Sources: The Straits Times, US slaps sanctions on Indian, Turkish firms and people for aiding Iran; The Economic Times, US sanctions Indian, Turkish firms over Iran ties.
