WASHINGTON : The United States Department of the Treasury has rolled out fresh sanctions targeting individuals and entities based in India and Turkey accused of enabling Iran to bypass international trade restrictions. The move is part of the Trump administration’s ongoing “Operation Economic Outcast,” a campaign aimed at choking off Iran’s oil revenue streams and crippling its financial ability to fund regional conflicts.
At the center of the fresh enforcement action is a Chandigarh-based network operated by Suniel Kumar Sharma and his wife, Jaspreet Preeti Shahid. According to the Treasury, the couple ran an illicit scheme providing fraudulent ship flags and fake maritime certifications to vessels carrying Iranian petroleum. By setting up deceptive websites and impersonating maritime registries of nations such as Guyana, Eswatini, and Laos, the operation allowed sanctioned shadow-fleet tankers-including those working directly for the Iranian military-to evade oversight and keep sailing.
In addition to Sharma and Shahid, the Treasury designated two other Indian citizens heading their associate businesses, alongside nine connected companies used to maintain the fraudulent registries.
The crackdown also extended to Turkey, where authorities sanctioned Fugo Ground Services Inc. The Treasury cited the firm for providing ground handling and logistics support to several heavily sanctioned Iranian airlines that continue operating commercial routes to Turkey.
US Treasury Secretary Scott Bessent reaffirmed Washington’s unyielding stance against any party facilitating Iranian commerce, warning that those backing Tehran by land, sea, or air would face immediate isolation from the US financial system. US officials noted that aggressive sanctions under the operation have already plunged Iran’s economy into turmoil, triggering historic lows for the rial and sending domestic inflation soaring near 90 percent.
