US slaps sanctions on Indian, Turkish firms and people for aiding Iran

By Andrea Shalal

WASHINGTON, Nov 4 (Reuters) – The US Treasury on Wednesday issued fresh sanctions against companies and individuals based in India and Turkey for their ties to Iran, warning that it would continue to go after anyone who supported the Iranian regime.

The sanctions are part of the Trump administration’s “Operation Economic Outcast,” which aims to cut off Iran’s ability to sell oil to fund the war with the United States.

Treasury last week said its actions were decimating Iran’s economy, driving the rial currency to new lows and sending domestic inflation rates to levels around 90%.

Treasury said Wednesday’s action targeted what it called “the vast criminal network” run by India-based Suniel Kumar Sharma, his wife Jaspreet Preeti Shahid, and two other Indian citizens who head two of the couple’s businesses, as well as nine separate entities connected to Sharma.

“Their schemes have provided false flags and certifications to sanctioned vessels involved in transporting Iranian petroleum, including vessels operating on behalf of the Iranian military and its proxies,” the department said in a statement.

The department also sanctioned Turkey-based Fugo Group Services Inc for its ongoing support of Iran’s heavily sanctioned aviation sector.

(Reporting by Andrea Shalal and Katharine Jackson; Editing by Caitlin Webber)

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