U.S. sanctions Turkish aviation company and Indian maritime network over alleged support for Iranian airlines and oil shipments

The United States imposed new sanctions on individuals and companies linked to India and Türkiye on Wednesday, November 4, targeting an alleged maritime fraud network that helped Iranian oil shipments evade restrictions and a Turkish aviation services company accused of supporting sanctioned Iranian airlines.

The U.S. Treasury Department said the measures, announced under Operation Economic Outcast, targeted a network led by India-based Suniel Kumar Sharma and his wife, Jaspreet Preeti Shahid, who allegedly arranged fraudulent vessel registrations, flags and maritime certifications for ships transporting Iranian petroleum.

According to the Treasury, the network provided documentation to sanctioned vessels, including ships operating on behalf of Iran’s military and allied groups. Some of the fraudulent registries claimed authority from countries including Guyana, Eswatini and Laos.

Washington also sanctioned Fugo Ground Services Inc., an Istanbul-based aviation company operating under the name Fugo Aviation, for providing ground-handling services to Iranian airlines already subject to U.S. restrictions.

The Treasury identified six carriers with which Fugo had direct service agreements: Iran Air Tour, Saha Airlines, Sepehran Airlines, Varesh Airlines, Taban Airlines and Ata Airlines.

Several of those agreements involved airlines sanctioned on September 8, with the Treasury saying Fugo began providing services to some of them in the following weeks.

Treasury Secretary Scott Bessent warned that Washington would continue targeting businesses and individuals accused of helping Iran circumvent American restrictions.

“We know where you are, and we will sanction those who continue supporting the Iranian regime, whether by land, sea, or air,” Bessent said.

The Treasury also issued a warning to the maritime industry about vessels operating under false flags, citing risks involving international shipping regulations, insurance coverage and environmental damage.

The new designations freeze any assets belonging to the sanctioned parties that fall under U.S. jurisdiction and generally prohibit American individuals and companies from conducting transactions involving their blocked property.

The measures extend Washington’s sanctions campaign against Iran’s petroleum and aviation sectors, targeting both the shipment of Iranian oil and foreign companies providing services to Iranian carriers.