The US Treasury exposes a global maritime fraud network that supports Iran and imposes sanctions

On Wednesday, the US Treasury Department revealed “a global maritime fraud network that supports the Iranian regime,” providing details about the network and announcing its inclusion in the sanctions list. This came in a statement by the US Treasury, which stated: “The US Treasury targeted a vast criminal network run by Sunil Kumar Sharma - who resides in India - and his wife, Jasprit Preeti Shahid, as they provided support to the Iranian parallel fleet through a network of maritime fraud operations.

Their schemes provided fake flags and maritime certificates to sanctioned vessels involved in transporting Iranian oil, including vessels operating for the Iranian military and its proxies.

We know your whereabouts, and we will impose sanctions on anyone who continues to support the Iranian regime, whether by land, sea or air.” The ministry stated that “fake flags and maritime certificates allow ships engaged in illicit activities to evade international regulations designed to ensure the safety of crews and protect against environmental damage.”

False-flagged ships also lack valid liability and indemnity insurance; This means that the ships of the Iranian parallel fleet operating under false flags may cause damage estimated at billions of dollars to the economies of countries operating in their territorial waters.” The statement stated: “The Office of Foreign Assets Control (OFAC) today also imposed sanctions on the Turkey-based Fogo Ground Services Company due to its continued provision of services that support the Iranian aviation sector.

The Treasury Department has repeatedly warned that it will take action against any party that continues to support the Iranian aviation industry, which is an essential pillar that enables the regime to carry out its destabilizing activities, including military deployments and terrorist activities.