The United States government has imposed sanctions on an India-based businessman, his wife, and several affiliated companies, accusing them of facilitating a broad maritime fraud network designed to help Iran circumvent international oil trade restrictions. The sanctions were announced on Wednesday under the Trump administration's broader initiative known as "Operation Economic Outcast," which seeks to disrupt Iran’s ability to generate revenue through petroleum exports and other economic activities.
According to the US Treasury Department, Suniel Kumar Sharma and his spouse, Jaspreet Preeti Shahid, allegedly operated a "vast criminal network" from Chandigarh. This network is accused of providing false flags and fraudulent maritime certifications to vessels transporting Iranian petroleum. Officials claim that these services allowed sanctioned ships, including those operating on behalf of the Iranian military and its proxies, to continue their international operations while successfully evading established maritime regulations.
The US Treasury also identified two other Indian nationals, Ashwani Kumar Dhiman and Ishwinder Singh, as individuals who served as directors for businesses linked to Sharma’s network. In addition to the individuals, nine India-based entities were targeted by the Treasury, including Oceaniek Technologies India, Aryavart Ship Management, Precept Trends, Polynesia Maritime, Alexarya Finserv, Alexarya Media and Entertainment, Viharaboating, and the Aryavart Maritime and Educational Trust. The Treasury specifically noted that Oceaniek Technologies India was used to facilitate the creation of fraudulent ship registries.
The mechanics of the alleged fraud involved creating sophisticated websites that falsely claimed to provide ship registration, flagging, seafarer training, and vessel classification services on behalf of various nations without their authorization. Investigations suggest this activity dates back to 2014, when the couple reportedly attempted to impersonate the maritime flagging authority of the Caribbean nation of Dominica. In 2023, Sharma allegedly established a Singapore-based entity, Eswatini Maritime Affairs and International Ship Registry PTE Ltd, which continued to provide services to vessels transporting Iranian oil despite being disowned by the government of Eswatini.
The US Treasury stated that the network impersonated authorities from several countries and territories, including Aruba, Guyana, Mali, Mozambique, Malawi, Sint Maarten, and Timor-Leste. By utilizing these fraudulent registries, sanctioned vessels could effectively mask their origins and operations, undermining international enforcement efforts. Treasury officials warned that such activities not only facilitate illicit trade but also create significant dangers, as falsely flagged ships often lack legitimate protection and indemnity insurance, exposing nations to potential financial and environmental liabilities in the event of accidents within their territorial waters.
US Treasury Secretary Scott Bessent reaffirmed the administration’s commitment to targeting any individuals or organizations supporting the Iranian regime. "As we have said many times, under Operation Economic Outcast, you are either with us or against us," Bessent stated in a post on X. He emphasized that Washington would continue to monitor and act against those assisting Tehran's activities across land, sea, and air, warning that those involved cannot expect to escape US intervention.
The move against the Indian network follows a broader strategy by Washington to constrain Iran's economic influence amid ongoing geopolitical tensions. In a concurrent action on Wednesday, the US also sanctioned a Turkey-based firm, Fugo Ground Services Inc., for its alleged support of Iran's sanctioned aviation sector. As the US continues to enforce these measures, the spotlight remains on international supply chains and the illicit networks attempting to profit from the shadow shipping trade.
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