Chandigarh-based couple face US sanctions over Iran oil links

The US Department of Treasury sanctioned Suniel Kumar Sharma and his wife Jaspreet Preeti Shahid for allegedly defrauding maritime regulatory administrations across multiple jurisdictions to establish false flagging authorities and maritime classification societies.

Washington: The US has imposed sanctions on a Chandigarh-based couple and a web of companies they run for allegedly supporting Iran’s shadow fleet by providing false flags and certifications to transport petroleum.

The US Department of Treasury sanctioned Suniel Kumar Sharma and his wife Jaspreet Preeti Shahid for allegedly defrauding maritime regulatory administrations across multiple jurisdictions to establish false flagging authorities and maritime classification societies.

“Purporting to represent nations from nearly every continent, from Guyana to Eswatini and Laos, Sharma and Shahid have allowed the Iranian shadow fleet, including those operating on behalf of the Iranian military and its proxies, to evade international restrictions on their operation,” the Treasury Department said in a statement on Wednesday.

In 2023, Sharma established the Singapore-based Eswatini Maritime Affairs and International Ship Registry PTE. Ltd., which, despite being publicly disavowed by Eswatini authorities, continues to provide flagging services for vessels transporting Iranian petroleum, it said.

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

It said that Sharma and Shahid also manage a network of primarily India-based entities, some of which are used to establish fraudulent flagging registries.

The Treasury Department said Sharma is the managing director of India-based Oceaniek Technologies India, a company he has allegedly used to establish duplicitous flag registries, including those purporting to belong to Aruba, Nicaragua, and Sint Maarten.

In addition to Shahid, Indian nationals Ashwani Kumar Dhiman and Ishwinder Singh nominally serve as directors of Sharma’s businesses, including Aryavart Ship Management Private Limited.

India-based companies controlled by Shahid including Precept Trends Private Limited; Polynesia Maritime Private Limited; Alexarya Finserv Private Limited; Alexarya Media and Entertainment Private Limited; Viharaboating Private Limited; and Aryavart Maritime and Educational Trust have been sanctioned by the US.