The US Treasury on Wednesday sanctioned India-based Suniel Kumar Sharma, his wife Jaspreet Preeti Shahid, two other Indian citizens who head two of the couple’s businesses and nine entities connected to Sharma, a network that the department said provided false flags and certifications to sanctioned vessels carrying Iranian petroleum, including vessels operating on behalf of the Iranian military and its proxies.
Treasury said the scheme operated from Chandigarh and purported to represent nations from nearly every continent, from Guyana to Eswatini and Laos. The department also sanctioned Turkey-based Fugo Group Services Inc for its ongoing support of Iran’s aviation sector. The measures are part of “Operation Economic Outcast,” which aims to cut off Iran’s ability to sell oil to fund the war.