US sanctions Indian and Turkish firms accused of helping Iran
Summary
The U.S. Treasury announced sanctions against people and companies in India and Turkiye that it accused of helping Iran evade restrictions on oil exports and airline services. The measures freeze any U.S.-based assets held by those targeted and generally bar Americans from doing business with them.Key Facts
- The Treasury said the sanctions target a network run by Chandigarh-based Suniel Kumar Sharma and his wife, Jaspreet Preeti Shahid.
- Two other Indian nationals and nine entities linked to Sharma were also sanctioned.
- The Treasury accused the couple of issuing false ship flags and certifications that let tankers carrying Iranian oil operate.
- The Treasury said the alleged maritime scheme dates back to at least 2014 and used websites resembling official ship registries.
- Turkiye-based Fugo Ground Services was sanctioned for providing services to U.S.-sanctioned Iranian airlines, including Iran Air Tour and Saha Airlines.
- The Treasury warned shipping companies about sanctions risks tied to vessels sailing under false flags.
- The sanctions are part of the Trump administration's Operation Economic Outcast, which aims to restrict Iran's oil revenue.
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