US sanctions Indian and Turkish firms accused of helping Iran

The US Treasury announced Wednesday that the measures target a "vast criminal network" run by Suniel Kumar Sharma and his wife, Jaspreet Preeti Shahid, based in Chandigarh, India. Two other Indian nationals heading the couple's businesses and nine entities linked to Sharma were also sanctioned.

Fake Ship Registries

According to the Treasury, the couple falsely claimed to represent maritime authorities of countries including Guyana, Eswatini and Laos. They issued fake flags and certifications that allowed sanctioned tankers carrying Iranian oil to continue operating, including vessels working for the Iranian military and its allied groups.

The Treasury said the scheme dated back to at least 2014 and relied on websites built to resemble official national ship registries.

Turkish Firm Sanctioned

The US also sanctioned Turkiye-based Fugo Ground Services, which provided ground handling and other services to several US-sanctioned Iranian airlines that still fly to Turkiye, including Iran Air Tour and Saha Airlines.

Economic Pressure Campaign

The sanctions freeze any US assets held by those targeted and generally bar Americans from dealing with them. They are part of the Trump administration's "Operation Economic Outcast", which aims to cut off oil revenue Iran uses to fund its war effort.

The Treasury said last week that its campaign had pushed Iran's currency, the rial, to new lows and driven inflation to about 90 percent. The sanctions were announced a day after Democrats won control of both houses of Congress in US midterm elections.