Chandigarh couple at centre of fresh US sanctions over helping Iran evade oil sanctions

The United States on Wednesday imposed sanctions on two Indian nationals accused of running a large maritime fraud network that helped Iran's shadow fleet of oil tankers evade international restrictions.

The US Treasury Department identified the accused as Suniel Kumar Sharma and his wife, Jaspreet Preeti Shahid, who allegedly operated the network from Chandigarh. The sanctions also target two other Indian citizens who head businesses run by the couple, along with nine entities linked to Sharma.

According to the Treasury, the network helped Iranian vessels operate under false flags and obtain fraudulent maritime certifications. Some of the vessels were involved in transporting Iranian petroleum on behalf of the country's military and its proxies.

How the alleged maritime fraud worked

The Treasury said the couple operated through what it described as the "Sharma criminal Network", which allegedly deceived maritime regulatory authorities in several jurisdictions to establish fake flagging authorities and maritime classification societies.

The network claimed to represent countries across different continents, including Guyana, Eswatini and Laos, allowing vessels in Iran's shadow fleet to evade restrictions on their operations.

“Purporting to represent nations from nearly every continent, from Guyana to Eswatini and Laos, Sharma and Shahid have allowed the Iranian shadow fleet, including those operating on behalf of the Iranian military and its proxies, to evade international restrictions on their operation,” the statement said.

Sharma and Shahid's activities date back to at least 2014, when they allegedly attempted to impersonate the flagging authority of the Caribbean nation of Dominica.

The US Treasury said false flags and fake certifications allow vessels involved in illicit activities to bypass international rules designed to protect crew members and prevent environmental damage.

It added that falsely flagged ships do not have valid protection and indemnity insurance. As a result, vessels in Iran's shadow fleet could potentially cause billions of dollars in damage to the economies of countries whose territorial waters they enter.

Also Read: Nithya Raman wins LA mayoral race, becomes city's first Asian-American mayor

US widens sanctions against Iran

The latest action is part of Washington's expanding sanctions campaign against Iran, which intensified in August. At the time, the US announced that it would pursue the country's "economic asphyxiation" alongside its military campaign.

The Treasury Department also sanctioned Turkey-based Fugo Ground Services Inc. for its continued support of Iran's heavily sanctioned aviation sector.

"As we have said many times, under Operation Economic Outcast, you are either with us or against us," Treasury Secretary Scott Bessent said.

"We know where you are, and we will sanction those who continue supporting the Iranian regime, whether by land, sea, or air."

Bessent has previously warned that Washington could impose sanctions on any country or company assisting Iran, regardless of its relationship with the United States.