The US Treasury Department accused Suniel Kumar Sharma and his spouse, Jaspreet Preeti Shahid, of running a network that provided false flags and maritime certifications to sanctioned vessels transporting Iranian petroleum. Some of these ships allegedly operated on behalf of Iran’s military and its proxies.
Announcing the sanctions on Wednesday (local time), US Treasury Secretary Scott Bessent warned that Washington would continue to act against individuals and businesses supporting the Iranian regime.
“As we have said many times, under Operation Economic Outcast, you are either with us or against us. 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 post on X.
According to the Treasury Department, Sharma and Shahid allegedly established fraudulent maritime registries and classification societies, operating websites that claimed to offer services on behalf of countries that had never authorised them to do so.
The department traced their alleged activities back to at least 2014, when the couple reportedly attempted to impersonate Dominica’s maritime flagging authority.
Their network later provided registration services to vessels carrying Iranian petroleum, allowing them to circumvent international restrictions, the Treasury alleged.The sanctions also cover several India-based companies associated with the couple. These include Oceaniek Technologies India, Aryavart Ship Management Private Limited, Precept Trends Private Limited, Polynesia Maritime Private Limited, Alexarya Finserv Private Limited, Alexarya Media and Entertainment Private Limited, Viharaboating Private Limited and Aryavart Maritime and Educational Trust.
The action was taken under Executive Order 13902, which targets key sectors of Iran’s economy, including petroleum, petrochemicals and aviation.
In a separate move, Washington also sanctioned Turkiye-based Fugo Ground Services Inc for allegedly providing ground-handling and other services to Iranian airlines already designated by the US.
The airlines include Iran Air Tour, Saha Airlines, Sepehran Airlines, Varesh Airlines, Taban Airlines and Ata Airlines Company.
The Treasury Department said Fugo had continued to provide services to these carriers despite repeated warnings from Washington about the risks of doing business with sanctioned Iranian airlines.
Alongside the sanctions, the department issued an advisory to the maritime industry, cautioning businesses against dealing with vessels operating under potentially fraudulent flags.
Such registrations, it warned, could allow ships engaged in illicit activities to avoid international requirements relating to crew safety and environmental protection.
The latest action forms part of Operation Economic Outcast, an initiative announced by Bessent on August 24, 2026, to disrupt Iran’s economic networks.
The operation focuses on individuals and entities involved in oil smuggling, sanctions evasion and the movement of funds that help sustain Iran’s economy.
Under the sanctions, any property or financial interests belonging to the designated individuals and entities that fall under US jurisdiction will be blocked.
Transactions involving them will also generally be prohibited unless specifically authorised or exempted.
The Treasury Department warned that breaches of these restrictions could lead to civil or criminal penalties, including for foreign individuals and businesses.