US Sanctions Indian and Turkish Firms Over Alleged Iran Oil Scheme

The United States government has announced new sanctions targeting a network of individuals and companies based in India and Turkiye, alleging they played a key role in helping Iran bypass international restrictions on its oil exports and airline operations. The measures, which follow an investigation into what officials described as a vast criminal network, target several Indian nationals and a Turkish ground services provider. Among those sanctioned are Suniel Kumar Sharma and his wife, Jaspreet Preeti Shahid, an Indian Turkish couple operating out of Chandigarh, who are accused of orchestrating the illicit activities.

The US sanctioned Indian and Turkish entities for facilitating Iranian oil exports and aviation operations.

Investigating the Indian Turkish connection

The US Department of the Treasury revealed that the network, which has been active since at least 2014, utilized websites designed to mimic official national maritime registries. The couple allegedly falsely claimed to represent the maritime authorities of nations including Guyana, Eswatini, and Laos. By issuing fraudulent flags and certifications, they enabled sanctioned tankers—including those associated with the Iranian military and allied groups—to continue transporting Iranian oil globally.

In addition to the couple, the Treasury sanctioned two other Indian nationals who managed the businesses, along with nine entities linked to Sharma. The sanctions freeze any assets these individuals or companies may hold within US jurisdiction and generally prohibit American citizens and entities from engaging in business with them.

Aviation sanctions in Turkiye

Beyond the maritime scheme, the Treasury’s Office of Foreign Assets Control targeted Fugo Ground Services, a company based in Turkiye. The firm is accused of providing essential ground handling and support services to several Iranian airlines currently under US sanctions, such as Iran Air Tour and Saha Airlines, which continue to operate flights to Turkish airports.

These actions form a core part of the Trump administration’s “Operation Economic Outcast,” an initiative designed to diminish the oil revenue Tehran utilizes for its military efforts. Treasury Secretary Scott Bessent stated that Washington remains committed to pursuing any entities that provide support to the Iranian regime. The department noted that its ongoing campaign has contributed to significant economic pressure on Tehran, citing record lows for the Iranian rial and inflation rates reaching approximately 90 percent.

Why it matters

These sanctions represent a significant escalation in US efforts to enforce international restrictions on Iranian trade. By targeting the infrastructure of fake ship registries and foreign ground support, the US aims to close loopholes that have allowed Iran to maintain its oil revenue streams despite global pressure.

For shipping firms and logistics companies, the Treasury has issued a clear warning regarding the risks of interacting with vessels operating under false flags. The move impacts international maritime compliance and places increased scrutiny on businesses operating in India and Turkiye that maintain ties with sanctioned Iranian sectors.