World · Middle East · 2 hrs ago
US sanctions Indian and Turkish firms over support for Iran
The US Treasury has sanctioned firms and people in India and Turkey over alleged support for Iran.
It says an India-based network led by Suniel Kumar Sharma and his wife, Jaspreet Preeti Shahid, supplied false flags and maritime certificates to ships carrying Iranian oil.
The sanctions also cover two other Indian citizens and several companies linked to the network.
The Treasury says a Turkish company, Fugo Ground Services, provided services to US-sanctioned Iranian airlines operating in Turkey.
Fake ship documents helped vessels evade restrictions, and ships without valid insurance could cause costly damage in the waters where they operate.
The measures are part of a US campaign to cut Iran's ability to sell oil and fund its war with the US and Israel.
Treasury Secretary Scott Bessent said the US would keep sanctioning people and businesses that support Iran by land, sea or air.
The United States imposed sanctions on an India-based couple and associated companies over alleged support for Iran’s oil-smuggling network.
The US Treasury said the network provided false flags and maritime certifications to vessels carrying Iranian petroleum.
The sanctions also target Turkey-based Fugo Ground Services Inc, which the Treasury accused of servicing US-designated Iranian airlines.
Treasury Secretary Scott Bessent said the United States would sanction those who continue supporting Iran.
The measures block property and financial interests under US jurisdiction and generally prohibit transactions involving the designated parties.
- Who
- The US Treasury targeted India-based Suniel Kumar Sharma and Jaspreet Preeti Shahid, associated companies and Turkey-based Fugo Ground Services Inc.
- What
- The United States imposed sanctions over alleged support for Iran’s oil and aviation sectors.
- When
- The action was announced on Wednesday, November 4, 2026, local time.
- Where
- The targets include entities in India and Turkey; the sanctions were imposed by the United States.
- Why
- The Treasury said the targets helped Iran evade sanctions by supporting oil transport or servicing Iranian airlines.
This story does not have two clearly opposing sides.
The Treasury said Sharma and Shahid’s alleged activities dated back to at least 2014, when they allegedly tried to impersonate Dominica’s maritime flagging authority.
Bessent announced Operation Economic Outcast, aimed at disrupting Iran’s economic lifelines.
The United States announced sanctions on the Indian network and Turkey-based Fugo Ground Services Inc.
- India-based individuals
- Suniel Kumar Sharma and Jaspreet Preeti Shahid
- India-based companies
- Oceaniek Technologies India and Aryavart Ship Management Private Limited, among others
- Turkey-based target
- Fugo Ground Services Inc
- Legal authority
- Executive Order 13902
- Iranian airlines named
- Iran Air Tour, Saha Airlines, Sepehran Airlines, Varesh Airlines, Taban Airlines and Ata Airlines Company
4 sources
What people are saying
As we have said many times, under Operation Economic Outcast, you are either with us or against us. We know where you are, and we will sanction those who continue supporting the Iranian regime, whether by land, sea, or air.