US sanctions Indian couple accused of helping Iran evade oil sanctions

The United States has imposed sanctions on an Indian business couple and several entities linked to them, accusing them of helping Iran evade US sanctions on its oil exports. The US Treasury Department announced the sanctions on Wednesday (4 November).

Washington said the sanctions were imposed to identify a network that provides 'false flags' and fake maritime certificates to vessels carrying Iranian oil, and to disrupt their activities.

The United States has accused Chandigarh-based businessman Sunil Kumar Sharma and his wife Jaspreet Preeti Shahid of running this network.

In its statement, the US Treasury Department said the couple was involved in fraudulently providing maritime services and fake certificates to vessels engaged in transporting Iranian oil and already under various sanctions. The ring had also been assisting vessels operated on behalf of Iran and its aligned forces.

US Treasury Secretary Scott Bessent said the step was taken as part of the United States' 'Economic Fury' operation. He said that whether by land, water or air, those who keep helping the Iranian government will not be spared, and added that Washington has specific information about where such individuals and networks are active.

Earlier, at a White House press briefing on 24 August, Scott Bessent said Washington had launched the 'Economic Fury' operation against Iran on President Donald Trump's orders.

Before that, on 19 August, Trump announced on his 'Truth Social' platform that this would be the most destructive economic campaign against any country in history, through which an unprecedented level of economic warfare and isolation policy would be applied.

Tehran, on the other hand, reacted strongly to the US move. Last August, Iran's Foreign Minister Abbas Araghchi shared two photos on social media showing the US national debt crossing 40 trillion dollars.

Araghchi said the real aim of Trump's so-called 'Economic Fury' operation is to divert public attention from the United States' internal economic crisis and rising national debt. He insisted that blindly following Washington's failed policies would ultimately end in their defeat and would only increase hostility with the Iranian people.