US Sanctions Network Accused Of Running Fake Ship Registries For 11 Countries To Flag Iran’s Shadow Fleet

Today, as part of Operation Economic Outcast, the U.S. Department of the Treasury targeted the vast criminal network of India-based Suniel Kumar Sharma and his spouse, Jaspreet Preeti Shahid, who have supported Iran’s shadow fleet through a web of maritime fraud. Their schemes have provided false flags and certifications to sanctioned vessels involved in transporting Iranian petroleum, including vessels operating on behalf of the Iranian military and its proxies.

“As we have said many times, under Operation Economic Outcast, you are either with us or against us,” said Secretary of the Treasury Scott Bessent. “We know where you are, and we will sanction those who continue supporting the Iranian regime, whether by land, sea, or air.”

False flags and fake maritime certifications allow vessels engaging in illicit activity to evade international regulations aimed at ensuring crew safety and safeguarding against environmental harm. Falsely flagged vessels carry no valid protection and indemnity insurance, meaning that Iranian shadow fleet vessels operating under false flags could potentially cause billions of dollars in damages to the economies of the countries in whose territorial waters they operate.

OFAC today also sanctioned Türkiye-based Fugo Ground Services Inc for its ongoing services in support of Iran’s aviation sector. Treasury has repeatedly warned that it will take action against those who continue to support Iran’s aviation industry, a key enabler of the regime’s destabilizing proliferation and terrorist activity.

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