The United States has imposed sanctions on a Chandigarh-based couple and their network of companies for allegedly aiding Iran's shadow fleet in evading international oil sanctions. The US Department of Treasury targeted Suniel Kumar Sharma and his wife Jaspreet Preeti Shahid for providing false flags and certifications to transport Iranian petroleum.
The Treasury Department accused the couple of defrauding maritime regulatory administrations to establish fake flagging authorities and maritime classification societies. According to the statement, Sharma and Shahid have allowed the Iranian shadow fleet, including vessels operating on behalf of the Iranian military, to bypass international restrictions.
In 2023, Sharma established the Singapore-based Eswatini Maritime Affairs and International Ship Registry PTE. Ltd., which continues to provide flagging services for vessels transporting Iranian petroleum despite being disavowed by Eswatini authorities. Treasury Secretary Scott Bessent warned that the US will continue to sanction those supporting the Iranian regime.
The couple manages a network of primarily India-based entities, some of which are used to create fraudulent flagging registries. Sharma is the managing director of Oceaniek Technologies India, which has allegedly established fake registries for countries like Aruba, Nicaragua, and Sint Maarten. Several India-based companies controlled by Shahid have also been sanctioned by the US.