The United States has imposed US sanctions on Indian companies and nationals accused of running a network that helped Iranian vessels sail under false flags and obtain fake maritime certificates, in a new move against Iran’s so-called shadow fleet of oil tankers.
According to the US Treasury, the network was run from Chandigarh by Indian nationals Suniel Kumar Sharma and Jaspreet Preeti Shahid, along with two other Indian nationals and a number of companies linked to them. Treasury also sanctioned Fugo Ground Services Inc, a company based in Turkiye, for allegedly serving Iran’s aviation sector.
US Sanctions on Indian Companies: What Treasury Alleges
Treasury said the network used representations of countries on several continents to give Iranian ships false flags and fake maritime certifications, allowing the Iranian shadow fleet “to evade international restrictions”. Flag registration and certification are what allow a ship to enter ports, get insurance and trade, so fake documents make it harder for authorities to track sanctioned oil shipments.
Treasury Secretary Scott Bessent said the action was part of Operation Economic Outcast. “As we have said many times, under Operation Economic Outcast, you are either with us or against us,” he said, adding: “We know where you are, and we will sanction those who continue supporting the Iranian regime.”
Indian Companies and Nationals Sanctioned
| Target | Location | Alleged role |
|---|---|---|
| Suniel Kumar Sharma | Chandigarh, India | Ran the false-flag and certification network |
| Jaspreet Preeti Shahid | Chandigarh, India | Ran the network |
| Two other Indian nationals | India | Part of the network |
| Several linked companies | Various | Part of the network |
| Fugo Ground Services Inc | Turkiye | Serving Iran’s aviation sector |
No response from the Indian companies, the government in New Delhi or the named individuals had been reported at the time of writing.
Pressure on Iran’s Shadow Fleet
The shadow fleet is a group of older tankers that move Iranian oil while hiding their real ownership, often by switching flags, turning off tracking systems and using shell companies. Earlier this month, Washington also sanctioned 17 vessels it described as “the remnants of Iran’s shadow fleet”.
The latest action comes during the US-Iran conflict, as the US tries to cut Iran’s oil income. It also comes a day after Democrats won control of both chambers of Congress in the US midterm elections, although sanctions policy remains largely in the hands of the administration.
How US Sanctions on Indian Companies Affect Pakistan and the Region
- Oil prices: tighter action against Iranian oil exports can affect global crude supply and prices, which feed into fuel prices in Pakistan.
- Shipping and trade: shipping firms, ports and insurers across South Asia and the Gulf face more checks on vessels, flags and documents.
- Regional businesses: companies dealing with Iran-linked trade face a higher risk of being cut off from the US financial system.
What Sanctions Mean
Under US sanctions, any property or interests of the targets in the United States are blocked, and US persons are generally barred from dealing with them. Foreign banks and companies also tend to avoid sanctioned parties to protect their own access to the US dollar system, which makes the impact felt far beyond the United States.
For official updates, visit the US Department of the Treasury website.
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