2 min readUpdated: Nov 5, 2026 11:30 AM ISTThe shadow fleet refers to vessels involved in Russian, Iranian, and Venezuelan crude oil and petroleum products trade. (Source: File)The US has imposed sanctions on Indian couple Suniel Kumar Sharma and his wife Jaspret Preeti Shahid over alleged web maritime fraud. In a statement, the Treasury department said, “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.”“As we have said many times, under Operation Economic Outcast, you are either with us or against us,” US Secretary of the Treasury Scott Bessent said in a statement. “We know where you are, and we will sanction those who continue supporting the Iranian regime, whether by land, sea, or air.”As per the allegations, Sharma and his wife Shahid defrauded maritime regulatory administrations in multiple jurisdictions in order to establish false flagging authorities and maritime classification societies from Chandigarh. Apart from that, they purportedly represented nations from every continent, from Guyana to Eswatini and Laos permitting Iranian shadow fleet, including those operating on behalf of the Iranian military and its proxies, to evade international restrictions on their operation.The couple allegedly started operations in 2014 when they sought to impersonate the flagging authority of the Dominica. Later in 2023, Sharma set up Singapore-based Eswatini Maritime Affairs and International Ship Registry PTE. Ltd. (Eswatini Maritime), which provided flagging services for vessels ferrying Iranian petroleum, even though the activities were already rejected by Eswatini authorities.© IE Online Media Services Pvt LtdThe Express Global Desk at indianexpress.com which delivers authoritative, verified, and context-dri... Read MoreStay updated with the latest - Click here to follow us on InstagramAdvertisementLoading Recommendations...AdvertisementAdvertisement