US sanctions Indian and Turkish firms accused of helping Iran

The United States has imposed sanctions on companies and individuals in India and Turkiye that it accuses of helping Iran get around restrictions on its oil exports and its airlines.

The US Department of the Treasury said on Wednesday that the measures target a “vast criminal network” run by Suniel Kumar Sharma and his wife, Jaspreet Preeti Shahid, who are based in the northern Indian city of Chandigarh.

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Two other Indian nationals who head the couple’s businesses and nine entities linked to Sharma were also sanctioned.

According to the Treasury, the couple falsely claimed to represent the maritime authorities of countries including Guyana, Eswatini and Laos. It said they issued fake flags and certifications that allowed sanctioned tankers carrying Iranian oil to continue operating, including vessels working for the Iranian military and its allied groups.

The department said the scheme dated back to at least 2014 and relied on websites built to resemble official national ship registries.

The Treasury also sanctioned Turkiye-based Fugo Ground Services. It said the company provided ground handling and other services to several US-sanctioned Iranian airlines that still fly to Turkiye, including Iran Air Tour and Saha Airlines.

The Treasury’s Office of Foreign Assets Control also warned shipping companies about the sanctions risks of dealing with vessels sailing under false flags.

Treasury Secretary Scott Bessent said Washington would continue to pursue anyone who supports Tehran.

The sanctions freeze any US assets held by those targeted and generally bar Americans from dealing with them.

The measures are part of the Trump administration’s “Operation Economic Outcast”, which aims to cut off oil revenue Iran uses to fund its war effort. The Treasury said last week that its campaign had pushed Iran’s currency, the rial, to new lows and driven inflation to about 90 percent.

The sanctions were announced a day after Democrats won control of both houses of Congress in US midterm elections.