Indian firms, citizens among entities sanctioned by US for ‘supporting’ Iran

The United States on Wednesday imposed sanctions on companies and persons based in India and Türkiye for supporting Iran amid the war in West Asia.

The sanctions are part of the Donald Trump administration’s “Operation Economic Outcast” aimed at cutting-off Tehran’s ability to sell oil to fund the conflict with the US and Israel.

The US Department of Treasury’s action targeted what it alleged was a “vast criminal network” run by Chandigarh-based Suniel Kumar ⁠Sharma and his wife Jaspreet Preeti Shahid.

Washington alleged that the couple “supported Iran’s shadow fleet through a web maritime fraud”.

It also sanctioned two other Indian citizens, Ashwani Kumar Dhiman and Ishwinder Singh, who head two of the couple’s businesses, and nine entities linked to ​Sharma and Shahid.

Their schemes “provided false flags and certifications to sanctioned vessels involved in transporting Iranian petroleum, including vessels operating on behalf of the Iranian military and its proxies,” the department alleged.

False flags and fake maritime certifications allow ships engaging in illicit activity to evade international regulations aimed at ensuring crew safety and safeguarding against environmental harm, Washington said in a statement.

Vessels that are falsely flagged carry no valid protection and indemnity insurance, meaning that Iranian shadow fleet vessels operating under false flags “could potentially cause billions of dollars in damages to the...

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