The sanctions were announced under the Trump administration’s “Operation Economic Outcast”.
The sanctions were announced under the Trump administration’s “Operation Economic Outcast”, which aims to cut off Iran’s ability to generate revenue through oil exports and other economic activities. The US Treasury also named Indian nationals Ashwani Kumar Dhiman and Ishwinder Singh, who it said served as directors of businesses associated with Sharma’s network, along with nine India-based entities linked to the network. In a post on X, the US Treasury said Sharma and Shahid had supported Iran’s shadow fleet through a web of maritime fraud. Sharma and Shahid operated the network from Chandigarh and allegedly established fraudulent maritime registries by impersonating the authorities of several countries, according to the US Treasury. The Treasury said Oceaniek Technologies India was used to set up fraudulent ship registries, while Shahid took over the management of several businesses linked to the network as scrutiny of Sharma increased.
It alleged that their operations provided false flags and certifications to sanctioned vessels involved in transporting Iranian petroleum, including ships working for Iran’s military and its proxies.
US warns of action against Iran’s supporters
In a post on X, Bessent said the administration would continue targeting those helping the Iranian regime, whether through land, sea or air. “As we have said many times, under Operation Economic Outcast, you are either with us or against us,” Bessent said. He also warned that those involved in supporting Tehran’s activities could not expect to escape US action.