U.S. Targets Fraudulent Ship Registries Used by Iran’s Shadow Fleet
Treasury said the network issued false flags and certifications for sanctioned vessels, with 90% inflation and a weaker rial cited as pressure on Iran.
- On Wednesday, the U.S. Treasury sanctioned an India-Turkey network for facilitating fraudulent maritime certifications that helped sanctioned Iranian vessels evade international restrictions.
- These sanctions are part of the Trump administration's "Operation Economic Outcast," which aims to cut off Iran's ability to sell oil to fund the war with the United States.
- Treasury targeted a "vast criminal network" run by India-based Suniel Kumar Sharma and Jaspreet Preeti Shahid, who provided false flags for Iranian military vessels; Turkey-based Fugo Ground Services Inc was designated for supporting sanctioned Iranian airlines.
- The department reported that recent actions are decimating Iran's economy, driving the rial currency to new lows and sending domestic inflation rates to around 90%.
- Secretary Bessent warned that the U.S. will continue to pursue those supporting the Iranian regime by land, sea, or air, maintaining enforcement of the port blockade.
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The US Treasury Department on Wednesday imposed new sanctions on companies and individuals in India and Turkey for their ties to Iran, warning that it would continue to take action against anyone who supports the regime in Tehran, Reuters reports, according to Agerpres.
According to the US Treasury Department, the individuals and companies included in the new sanctions package are allegedly linked to Iran's so-called "shadow fleet"
US sanctions Indian, Turkish firms accused of helping Iran's shadow oil fleet
The US has sanctioned an Indian couple and linked companies over alleged fraudulent ship registrations for Iranian oil carriers. The action expands Operation Economic Outcast and freezes designated assets under US jurisdiction.
The US Treasury Department has sanctioned an India-based shipping network that it claims helps Iran circumvent sanctions and continue exporting oil. The decision was reportedly made as part of operations targeting a shadow fleet used by Iran for oil transportation.
Operation Economic Outcast Targets Maritime Fraud Network
The U.S. Department of the Treasury provided an update on Operation Economic Outcast as their latest action Wednesday targets a maritime fraud network assisting Iran's ability to evade sanctions involved with the transportation of oil.
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