US sanctions firms over alleged Iranian oil tanker scheme

The United States Treasury Department has announced sanctions against multiple entities and individuals accused of operating a scheme to obscure the ownership and operations of Iranian oil tankers through false maritime registrations. The enforcement action targets companies with connections to India and Turkey, marking a fresh effort by Washington to tighten restrictions on Iranian petroleum trade.

Among those targeted are a businessman based in Chandigarh, his spouse, and two other Indian nationals allegedly involved in facilitating the scheme. The individuals are accused of using shell companies and fraudulent documentation to enable Iranian vessels to evade international scrutiny and operate outside the purview of existing sanctions regimes.

The sanctions represent Washington's continued pressure on intermediaries and facilitators it says are helping Iran circumvent economic restrictions. The designations freeze any US assets held by the targeted entities and generally prohibit American persons and companies from conducting business with them.

The action underscores growing US concern about third-party involvement in circumventing Iran sanctions, particularly through maritime trade routes and ship registration mechanisms that have traditionally been opaque. Officials say such illicit schemes undermine the effectiveness of sanctions policy targeting Iranian oil exports.