US sanctions Indian and Turkish firms tied to Iran oil and aviation

The Treasury said Wednesday's designations target a network run by India-based Suniel Kumar Sharma and his wife Jaspreet Preeti Shahid, two other Indian citizens who head two of the couple's businesses, and nine entities connected to Sharma. According to the department, the network fraudulently claimed to represent countries including Guyana, Eswatini and Laos to issue flags and maritime certifications to sanctioned vessels carrying Iranian petroleum, including vessels it said operated for Iran's military and its proxies. The Treasury also sanctioned Turkey-based Fugo Group Services, which it said provided ground handling and other services to sanctioned Iranian airlines including Iran Air Tour, Saha Airlines, Taban Airlines and Ata Airlines.

The measures are part of the Trump administration's Operation Economic Outcast, which the Treasury says is meant to cut off Iran's oil revenue. Treasury Secretary Scott Bessent said Washington would keep targeting anyone who supports Tehran "whether by land, sea, or air," according to the statement. The department last week claimed its actions were driving the rial to new lows and domestic inflation to about 90 percent, figures that could not be independently verified. The US reimposed a blockade of Iranian ports on 23 Tir after a memorandum of understanding between Tehran and Washington to end the war broke down, Reuters reported.