US Sanctions Indian Businessman, Wife Over Alleged Iran Oil Trade Links Under Trump’s Operation

The United States has imposed fresh sanctions on an Indian businessman, his wife and several companies over their alleged involvement in helping Iran evade oil-related restrictions, as the Trump administration intensifies its efforts to cut off Tehran's revenue streams.

The US Treasury Department announced the sanctions on Wednesday, targeting individuals and entities based in India and Turkey for their alleged links to the Iranian government.

The action is part of US President Donald Trump's Operation Economic Outcast, a campaign aimed at choking off Iran's oil revenues and preventing Tehran from using the proceeds to finance its war with the United States. Washington has warned that it will continue imposing sanctions on individuals and businesses found supporting the Iranian government.

Last week, the Treasury Department claimed that its measures were putting severe pressure on Iran's economy, pushing the rial to record lows and driving domestic inflation to nearly 90%.

Who Is The Indian Businessman Targeted By US Sanctions?

At the centre of the latest action is India-based businessman Suniel Kumar Sharma, whose alleged network the US Treasury Department described as a "vast criminal network".

Sharma's wife, Jaspreet Preeti Shahid, has also been sanctioned, along with two other Indian nationals who head businesses associated with the couple. The US has additionally designated nine entities linked to Sharma.

According to the Treasury Department, the network allegedly helped sanctioned vessels involved in transporting Iranian petroleum obtain false flags and certifications. Some of these vessels were reportedly operating on behalf of the Iranian military and its proxies.

"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," the department said in a statement.

US Alleges Couple Ran Illegal Maritime Registration Network

The Treasury Department has accused Sharma of operating an unauthorised maritime registration network with assistance from his wife. According to the US government, the alleged activities involving fraudulent maritime registrations date back to at least 2014.

The couple reportedly established websites and organisations that falsely presented themselves as representatives of maritime regulatory authorities in several countries, despite having no official authorisation from the governments concerned.

These platforms allegedly offered various maritime services, including ship registration, seafarer training, vessel certification and classification. The US authorities claim the network used these operations to facilitate registrations under the flags of multiple countries and territories.

These reportedly included Aruba, Guyana, Mali, Mozambique, Malawi, Sint Maarten and Timor-Leste.

US Also Targets Turkey-Based Aviation Services Company

Apart from the Indian nationals and their associated entities, the US Treasury Department has also imposed sanctions on Turkey-based Fugo Ground Services Inc.

Washington accused the company of continuing to provide support to Iran's heavily sanctioned aviation sector, bringing it within the scope of the latest action.

US Treasury Secretary Scott Bessent reiterated the administration's position that individuals and businesses assisting Tehran would face consequences.

"As we have said many times, under Operation Economic Outcast, you are either with us or against us. We know where you are, and we will sanction those who continue supporting the Iranian regime, whether..." Bessent wrote on X.

The latest designations underline Washington's efforts to expand its sanctions campaign beyond Iranian entities by targeting individuals, businesses and networks allegedly helping Tehran sustain its oil trade and other economic activities.