Sunil Kumar Sharma and Jaspreet Preeti Shahid, an Indian couple based in Chandigarh, have been sanctioned as part of the United States' Operation Economic Outcast for managing a vast network of fake ship registrations that services oil tankers carrying Iranian oil.
Fake Ship Registration Network
According to the U.S. Treasury Department, this couple has been involved in identity fraud of flag administrations since ٢٠١٤. They initially attempted to present themselves as the maritime authority of Dominica and gradually created websites that offered ship registrations for various jurisdictions such as Guyana, Aruba, Mali, Mozambique, Malawi, Sint Maarten, and East Timor.
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Continued Activities and Sanctions
Sunil Kumar Sharma also established the "Maritime Affairs of Eswatini" and "International Ship Registration" based in Singapore in ٢٠٢٣. This company continued to provide flagging services to Iranian tankers, even though Eswatini officials publicly distanced themselves from them. Among the sanctioned vessels is the "Ping Shun," which is linked to this operation.
The U.S. also referred to the seizure of the "Majestic X" in April, a ship that was carrying Iranian oil and falsely claimed to be registered in Guyana. Other vessels associated with this network include "Latfa," "Binary Star," and "Vera."
The Office of Foreign Assets Control (OFAC) has issued a new warning regarding the sanctions risks associated with fake ships. The Treasury Department has stated that ships operating under fake registrations lack valid insurance for protection and indemnity and may expose coastal states to significant financial liabilities.
These sanctions follow previous actions by Washington in October against transport representatives in Singapore and Dubai and a Greek-Panamanian law firm accused of facilitating Iranian trade. The problem of fake registrations is rapidly growing, and according to recent reports, ٥٨٠ ships with fake flags have been identified in the IMO database, representing a ٢٣.٤% increase since the end of ٢٠٢٥.
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