ITDC Trade
US sanctions Indian couple over alleged Iran oil trade help
CNN Central News & Networks / ITDC India ePress / ITDC News / Agencies, Bhopal:
The United States has imposed sanctions on an Indian couple and nine companies and entities linked to them over allegations that they helped Iran’s sanctioned oil trade. According to the US Treasury Department, Chandigarh businessman Sunil Kumar Sharma and his wife Jaspreet Preeti Shahid are accused of helping Iranian oil tankers evade international sanctions through fake maritime registrations and certificates. Two other Indian citizens, Ashwani Kumar Dhiman and Ishwinder Singh, have also been sanctioned in the action.
In a statement issued on November 4, the US Treasury Department said the network was allegedly operating fake websites and entities in the names of maritime registration authorities of different countries. Through these, ships were given registrations and maritime certificates under the flags of countries whose governments had not authorised them. This allowed sanctioned vessels carrying Iranian oil to move at sea while concealing their real identities.
According to the United States, the activity had been going on since 2014. The network is accused of misusing the names of Guyana, Eswatini, Laos, Aruba and other countries. The sanctions list includes nine entities, including Oshneek Technologies India, Aryavart Ship Management, Precept Trends, Polynesia Maritime and Alexarya Finserv.
Under the action, related assets that fall under US jurisdiction will be frozen, and US citizens and companies will be barred from doing business with them. US officials have also warned businesses in other countries of the risk of sanctions if they conduct transactions with such networks. However, these are allegations made by the US administration, and responses from the parties concerned are still awaited.
