The US Treasury sanctioned companies and individuals based in India and Turkey on Wednesday for supporting Iran. The action targets a network that issued false flags and certifications to vessels carrying Iranian petroleum, and it comes as Washington tries to cut off Iran's oil sales.
The US Treasury issued fresh sanctions on Wednesday against companies and individuals based in India and Turkey for their support of Iran. Treasury warned it would continue to go after anyone who supports the Iranian government.
The sanctions are part of the Trump administration's "Operation Economic Outcast", which aims to cut off Iran's ability to sell oil to fund the war with the US and Israel. Treasury unveiled them a day after Democrats won control of both houses of Congress in midterm elections, as voters expressed anger about the Iran war and its impact in fueling US inflation.
A network selling false flags
Treasury said the action targeted what it described as a vast criminal network run by India-based Suniel Kumar Sharma, his wife Jaspreet Preeti Shahid, and two other Indian citizens who head two of the couple's businesses. Nine separate entities connected to Sharma were also targeted.
The Office of Foreign Assets Control said Sharma and Shahid, based in Chandigarh, India, fraudulently claimed to represent countries like Guyana, Eswatini and Laos in issuing flags and certifications. That allowed vessels operating on behalf of the Iranian military and its proxies to evade international restrictions and keep operating. Sharma's network bought web domains and built websites offering flagging, seafarer training and certification, and vessel classification.
OFAC also issued a new alert to industry about the sanctions risk of dealing with potentially false-flagged vessels.
Turkish airline services company designated
The department also sanctioned Turkey-based Fugo Ground Services Inc for its ongoing support of Iran's heavily sanctioned aviation sector. Treasury said the company provided ground handling and other services to several US-sanctioned Iranian airlines that continued to fly to Turkey, including Iran Air Tour, Saha Airlines, Taban Airlines and Ata Airlines.
Treasury Secretary Scott Bessent said in a statement that "we will sanction those who continue supporting the Iranian regime".
The move tightens the squeeze on Iranian oil sales after the US reimposed its blockade of Iranian ports on July 14, following the breakdown of a memorandum of understanding between Tehran and Washington to end the war.
Source: Investing.com (Reuters)
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