The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned an India-based network led by Suniel Kumar Sharma and his spouse, Jaspreet Preeti Shahid, over its role in supplying false flags and maritime certifications to vessels transporting Iranian petroleum. The action, part of Operation Economic Outcast, also targets Türkiye-based Fugo Ground Services Inc. for servicing sanctioned Iranian airlines. A new industry alert warns of the sanctions risks of dealing with potentially falsely flagged vessels and reiterates the need to screen maritime operators and the vessels they support. The maritime network used websites impersonating national flag registries and classification bodies to provide unauthorized documentation, including for vessels operating on behalf of the Iranian military and its proxies. The designations extend to associated directors and companies, including Oceaniek Technologies India and Singapore-based Eswatini Maritime Affairs and International Ship Registry PTE. Ltd. Separately, Fugo maintained direct service agreements with sanctioned Iranian carriers and began providing services to several of them in the weeks after their September 8, 2026, designations. The sanctions, imposed under Executive Order 13902, block designated persons’ property in the United States or held or controlled by U.S. persons. Entities owned 50% or more, directly or indirectly and individually or in aggregate, by blocked persons are also blocked. Transactions involving blocked property by U.S. persons or within the United States are generally prohibited unless licensed or exempt. Foreign financial institutions that knowingly conduct or facilitate significant transactions for designated persons risk restrictions on their U.S. correspondent or payable through accounts.

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