Trump administration sanctions Indian couple for helping Iran bypass oil curbs
Two other Indian nationals, Ashwani Kumar Dhiman and Ishwinder Singh, have also been sanctioned for their alleged roles as directors of companies linked to the couple.
PTC News Desk: The United States has imposed sanctions on an Indian businessman, his wife and several companies linked to them for allegedly helping Iran bypass international restrictions on its oil exports through fake ship registrations.
The sanctions were announced by the US Treasury Department on Wednesday. They target Chandigarh-based businessman Suniel Kumar Sharma and his wife, Jaspreet Preeti Shahid, who are accused of running a network that provided false registrations and certificates to ships carrying Iranian oil.
Two other Indian nationals, Ashwani Kumar Dhiman and Ishwinder Singh, have also been sanctioned for their alleged roles as directors of companies linked to the couple. Nine India-linked entities have been included in the action.
Separately, the US has targeted Turkey-based Fugo Ground Services Inc, accusing it of providing ground-handling and other services to six Iranian airlines already under US sanctions. These include Iran Air Tour, Saha Airlines, Sepehran Airlines, Varesh Airlines, Taban Airlines and Ata Airlines Company.
Washington said the network helped Iran's shadow fleet transport oil while hiding the ships' identities and ownership through fake maritime documents. Some of these vessels allegedly operated on behalf of the Iranian military and its associated groups.
The action is part of US President Donald Trump's Operation Economic Outcast, which aims to cut Iran's oil revenues and limit its ability to finance its war with the United States.
Who are the Indians targeted by the US ?
Suniel Kumar Sharma is at the centre of the sanctions. The US Treasury has accused him of running a network of fake maritime registration services with the help of his wife, Jaspreet Preeti Shahid.
According to the department, the couple had been involved in maritime registration fraud since at least 2014.
Their alleged operations included setting up websites and organisations that claimed to represent the maritime authorities of different countries without official approval.
These websites reportedly offered services such as ship registration, seafarer training, certification and vessel classification.
Sharma's network allegedly claimed to provide ship registration services on behalf of countries and territories including Aruba, Guyana, Mali, Mozambique, Malawi, Sint Maarten and Timor-Leste.
A ship's flag identifies the country under whose laws it operates. Proper registration allows maritime authorities to monitor vessels and ensure they follow international safety and regulatory standards.
The US Treasury alleged that Sharma and Shahid misused this system by providing fake registrations to ships carrying Iranian oil. This allowed the vessels to operate under the identities of countries that had not approved their registrations.
What do sanctions mean for Indian entities ?
Under the sanctions, the assets and financial interests of the individuals and companies named in the action will be frozen if they fall under US jurisdiction.
US citizens and businesses are generally prohibited from conducting transactions with them unless they receive permission from the Treasury's Office of Foreign Assets Control.
The restrictions may also apply to other companies that are directly or indirectly at least 50 per cent owned by sanctioned individuals or entities.
The US Treasury has also warned that individuals and businesses outside the US could face consequences for helping others violate or evade American sanctions.