The United States has announced another round of sanctions against businesses and individuals accused of helping Iran bypass international restrictions. The latest action, announced by the US Department of the Treasury on November 4, 2026, targets an India-based maritime network and a Türkiye-based aviation services company as Washington intensifies economic pressure on Tehran.
The sanctions were introduced under Operation Economic Outcast, a US campaign designed to restrict Iran’s financial resources and disrupt the networks supporting its oil exports and other strategic industries.
According to the Treasury Department, India-based businessman Suniel Kumar Sharma and his wife, Jaspreet Preeti Shahid, allegedly operated a network that provided fraudulent maritime registration services. The authorities claim that their activities helped vessels connected to Iran’s shadow fleet obtain false flags and maritime certifications, allowing them to continue operating despite international restrictions.
The US government alleges that the network established websites and business entities that falsely presented themselves as authorised maritime registration authorities for several countries. These organisations reportedly offered services such as vessel registration, seafarer certification and maritime classification without the necessary government approvals.
Washington has also linked the network to vessels transporting Iranian petroleum, including ships allegedly connected to Iran’s military and affiliated organisations. One example highlighted by the Treasury Department is the vessel PING SHUN, which reportedly received registration services through the network despite its involvement in Iranian oil shipments.
Several India-based companies have also been included in the sanctions announcement. These include Oceaniek Technologies India, Aryavart Ship Management Private Limited, Precept Trends Private Limited, Polynesia Maritime Private Limited and other associated entities. Indian nationals Ashwani Kumar Dhiman and Ishwinder Singh were also designated over their alleged connections with the business network.
The action extends beyond maritime operations. The US Treasury has separately sanctioned Türkiye-based Fugo Ground Services Inc, accusing the company of providing ground-handling and aviation-related services to multiple Iranian airlines already subject to American sanctions.
The airlines identified by Washington include Iran Air Tour, Saha Airlines, Sepehran Airlines, Varesh Airlines, Taban Airlines and Ata Airlines. According to the US authorities, Fugo maintained direct service agreements with these carriers and continued supporting some of them after their designation in September 2026.
The latest measures carry substantial financial implications for the designated organisations and individuals. Their assets and financial interests falling under US jurisdiction will be blocked, while American individuals and businesses are generally prohibited from conducting transactions with them unless authorised by the Office of Foreign Assets Control (OFAC). Companies majority-owned by blocked individuals are also subject to these restrictions.
US Treasury Secretary Scott Bessent reiterated that Washington would take action against organisations supporting Iran’s activities through maritime, aviation or other commercial channels. The department has also issued an industry alert warning shipping companies about the risks of dealing with vessels operating under potentially fraudulent flags.
The sanctions highlight Washington’s growing focus on international intermediaries that allegedly help Iran maintain access to global trade networks. By targeting shipping documentation providers, aviation service companies and associated businesses, the United States is seeking to make sanctions evasion more difficult and increase pressure on Iran’s economy.
The latest announcement signals that companies operating in international shipping and aviation may face greater scrutiny over their business relationships with sanctioned Iranian entities.
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