U.S. Sanctions Network Facilitating Iranian Oil Exports Through Fraudulent Maritime Flagging
The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has designated an alleged network of fraudulent maritime flagging and registration companies. This network, reportedly operated by Indian nationals Suniel Kumar Sharma and Jaspreet Preeti Shahid for over a decade, facilitated Iranian oil exports by providing false flags and certifications to sanctioned vessels. These vessels were involved in transporting Iranian petroleum, including for Iran's military and its proxies. The network allegedly offered flagging services for various jurisdictions, often without legal authorization, including Guyana, Aruba, and Eswatini. OFAC also sanctioned Türkiye-based Fugo Ground Services Inc. for its activities in Iran’s aviation sector, providing services to U.S.-sanctioned carriers. Concurrently, OFAC issued an alert warning commercial actors about the Iranian 'shadow fleet's' use of false flags, urging enhanced due diligence on vessels with suspicious flag registries or a history of 'flag hoppi...
