The US Department of the Treasury imposed new sanctions on Nov. 4 against an India-based maritime network accused of facilitating Iranian oil shipments through fraudulent vessel registrations and certifications, as Washington continued efforts to restrict Tehran's petroleum revenues.

The sanctions target Suniel Kumar Sharma, his wife Jaspreet Preeti Shahid, two other Indian nationals, and nine associated entities. According to the  Treasury, the network established unauthorized ship registries and maritime classification services that enabled sanctioned tankers transporting Iranian petroleum to operate under false flags. Treasury said some of the vessels supported by the network operated on behalf of Iran's military and its proxies.

Among the designated companies are India-based Oceaniek Technologies India and Singapore-based Eswatini Maritime Affairs and International Ship Registry Pte. Ltd. Treasury said the network provided false vessel registrations to several sanctioned tankers, including LATTAFA, BINARY STAR, and VERA.

The action, taken under Executive Order 13902 as part of the administration's Operation Economic Outcast campaign, also included a new Office of Foreign Assets Control (OFAC) advisory warning maritime operators about sanctions risks associated with falsely flagged vessels.

The designations block assets of the sanctioned parties held in the US or under the control of US persons and generally prohibit US persons from conducting transactions involving their property. The measures could further complicate transportation and compliance arrangements for Iranian oil shipments, although their immediate impact on export volumes remains uncertain.