US Treasury sanctions Indian and Turkish entities over alleged Iran ties
Washington targets a Chandigarh-based private network and a Turkish ground handling firm under Operation Economic Outcast.
The United States Treasury Department has imposed sanctions on a group of private individuals and companies in India, alongside a Turkish aviation service provider, for allegedly helping Iran evade international trade restrictions.
The measures, announced under the US administration's "Operation Economic Outcast", target private actors accused of operating illicit maritime networks and providing commercial support to Iranian airlines.
What the US Treasury alleged against the Indian network
According to the US Treasury Department, a Chandigarh-based private operation run by Suniel Kumar Sharma and his wife Jaspreet Preeti Shahid set up fraudulent maritime registries to help vessels carry Iranian petroleum. Two other Indian nationals, Ashwani Kumar Dhiman and Ishwinder Singh, were also sanctioned for managing associated businesses.
US officials stated that the private network created unauthorised websites impersonating official maritime authorities from countries such as Eswatini, Guyana, Laos, and Dominica. By issuing fake flags and certifications, the network allegedly enabled sanctioned oil tankers to bypass international environmental and safety regulations.
| Entity or Individual | Base | Alleged Role |
|---|---|---|
| Suniel Kumar Sharma | Chandigarh, India | Head of fraudulent maritime network |
| Jaspreet Preeti Shahid | Chandigarh, India | Co-operator managing network firms |
| Oceaniek Technologies India | India | Entity used to create false registries |
| Aryavart Ship Management | India | Entity connected to Sharma network |
| Fugo Ground Services Inc | Turkey | Ground support for sanctioned Iranian airlines |
The US Treasury designated nine India-based private entities linked to the operation, including Oceaniek Technologies India, Aryavart Ship Management, Precept Trends, Polynesia Maritime, Alexarya Finserv, Alexarya Media and Entertainment, Viharaboating, and Aryavart Maritime and Educational Trust.
Sanctions extended to Turkish aviation firm
In a parallel action, the US Office of Foreign Assets Control sanctioned Istanbul-based Fugo Ground Services Inc. The US Treasury stated that the firm provided ground handling and technical services to several sanctioned Iranian carriers operating flights to Turkey, including Iran Air Tour, Saha Airlines, Taban Airlines, and Ata Airlines.
US Treasury Secretary Scott Bessent warned that Washington would continue targeting any entities providing material support to Tehran. "We know where you are, and we will sanction those who continue supporting the Iranian regime, whether by land, sea, or air," Bessent said in a statement.
The US Treasury noted that falsely flagged vessels pose severe risks to international shipping, as they frequently operate without valid protection and indemnity insurance, exposing coastal states to potential liabilities in the event of maritime accidents.
Key numbers
| What | Figure | Source |
|---|---|---|
| India-based entities sanctioned | 9 | US Treasury Department statement |
| Sanctioned Turkish aviation firm | 1 | US Treasury Department statement |
In this story
| Name | Role in the story |
|---|---|
| US Treasury Department | Issued the sanctions designations |
| Suniel Kumar Sharma | Chandigarh-based businessman targeted by sanctions |
| Jaspreet Preeti Shahid | Co-operator of targeted Indian network |
| Fugo Ground Services Inc | Turkish aviation firm targeted by sanctions |
