‘Vast criminal network’: US sanctions Indian couple, 9 firms over maritime fraud aiding Iran’s oil trade

The sanctions were announced under the Trump administration’s “Operation Economic Outcast”. The United States on Wednesday imposed sanctions on an India-based businessman, his wife and several Indian companies for allegedly helping Iran evade international restrictions on its oil trade through a network involved in maritime fraud.The US Treasury Department identified Suniel Kumar Sharma and his wife, Jaspreet Preeti Shahid, as the alleged operators of a “vast criminal network” that provided false flags and fraudulent maritime certifications to vessels transporting Iranian petroleum. The network allegedly helped sanctioned ships, including those operating on behalf of Iran’s military and its proxies, continue their operations.The sanctions were announced under the Trump administration’s “Operation Economic Outcast”, which aims to cut off Iran’s ability to generate revenue through oil exports and other economic activities.The US Treasury also named Indian nationals Ashwani Kumar Dhiman and Ishwinder Singh, who it said served as directors of businesses associated with Sharma’s network, along with nine India-based entities linked to the network.In a post on X, the US Treasury said Sharma and Shahid had supported Iran’s shadow fleet through a web of maritime fraud. It alleged that their operations provided false flags and certifications to sanctioned vessels involved in transporting Iranian petroleum, including ships working for Iran’s military and its proxies.

How Indian network allegedly helped Iran evade sanctions

According to the US Treasury, Sharma and Shahid operated the network from Chandigarh and allegedly established fraudulent maritime registries by impersonating the authorities of several countries.AFP reported that the couple’s operations involved creating websites that falsely claimed to provide ship registration, flagging, seafarer training and vessel classification services on behalf of different countries without their authorisation.The alleged operations date back to 2014, when the couple reportedly attempted to impersonate the maritime flagging authority of the Caribbean nation of Dominica.In 2023, Sharma established Singapore-based Eswatini Maritime Affairs and International Ship Registry PTE Ltd. Despite being publicly disowned by Eswatini authorities, the organisation allegedly continued providing registration services to vessels transporting Iranian oil.The Treasury also identified websites that falsely claimed to offer maritime registration services on behalf of countries and territories including Aruba, Guyana, Mali, Mozambique, Malawi, Sint Maarten and Timor-Leste.The US alleged that several sanctioned vessels used the fraudulent registries to transport Iranian oil despite international restrictions. Among the entities targeted were Oceaniek Technologies India, Aryavart Ship Management, Precept Trends, Polynesia Maritime, Alexarya Finserv, Alexarya Media and Entertainment, Viharaboating and Aryavart Maritime and Educational Trust.The Treasury said Oceaniek Technologies India was used to set up fraudulent ship registries, while Shahid took over the management of several businesses linked to the network as scrutiny of Sharma increased.

US warns of action against Iran’s supporters

US Treasury Secretary Scott Bessent reiterated Washington’s warning that individuals and organisations supporting Iran would face sanctions.In a post on X, Bessent said the administration would continue targeting those helping the Iranian regime, whether through land, sea or air. He also warned that those involved in supporting Tehran’s activities could not expect to escape US action.”As we have said many times, under Operation Economic Outcast, you are either with us or against us,” Bessent said.The Treasury said fraudulent ship registrations allow vessels to evade international restrictions and maritime regulations.It also warned that falsely flagged ships may lack valid protection and indemnity insurance, potentially exposing countries to financial and environmental liabilities in the event of accidents in their territorial waters.In a separate action on Wednesday, Washington sanctioned Turkey-based Fugo Ground Services Inc for allegedly continuing to provide support to Iran’s heavily sanctioned aviation sector.The latest move is part of a broader US campaign to restrict Iran’s oil revenues and economic networks amid the ongoing conflict with Tehran.