US sanctions Indian couple, 9 firms over alleged Iran oil trade fraud
The US Treasury has sanctioned an Indian couple and nine associated companies for allegedly operating a maritime fraud network that helped Iran evade oil sanctions. The network reportedly provided false flags and fraudulent certifications to ships transporting Iranian petroleum.
Why it matters
The sanctions highlight ongoing US efforts to enforce economic pressure on Iran and disrupt shadow maritime networks used to bypass international restrictions.
The United States on Wednesday imposed sanctions on an India-based businessman, his wife and several Indian companies for allegedly helping Iran evade international restrictions on its oil trade through a network involved in maritime fraud.The US Treasury Department identified Suniel Kumar Sharma and his wife, Jaspreet Preeti Shahid, as the alleged operators of a "vast criminal network" that provided false flags and fraudulent maritime certifications to vessels transporting Iranian petroleum. The network allegedly helped sanctioned ships, including those operating on behalf of Iran's military and its proxies, continue their operations.The sanctions were announced under the Trump administration's "Operation Economic Outcast", which aims to cut off Iran's ability to generate revenue through oil exports and other economic activities.The US Treasury also named Indian nationals Ashwani Kumar Dhiman and Ishwinder Singh, who it said served as directors of businesses associated with Sharma's network, along with nine India-based entities linked to the network.In…
Headlinne story · 3 newsrooms
United States Sanctions Individuals and Companies Over Alleged Iran Oil Fraud
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