US Treasury sanctions India-based fraud network aiding Iranian oil fleet

An India-based couple used false ship registries and maritime certification services for more than a decade to help vessels carrying Iranian oil evade international restrictions. The United States has sanctioned the couple, their associated companies and others involved in the network. In its “Operation Economic Outcast Targets Global Maritime Fraud Network Supporting Iranian Regime” report published on 2026-11-04, the US Department of the Treasury said Suniel Kumar Sharma and his wife, Jaspreet Preeti Shahid, operated from Chandigarh, India, to deceive maritime administrations across multiple jurisdictions. Their false flagging authorities and vessel classification societies helped Iran’s shadow fleet, including ships operating for the Iranian military and its proxies, circumvent restrictions. Treasury traced their activities to 2014, when they sought to impersonate Dominica’s flagging authority.

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