The United States Treasury on Wednesday 4 November 2026 imposed fresh sanctions on companies and individuals based in India and Türkiye over alleged support for Iran, under the Trump administration's Operation Economic Outcast, which aims to cut off Iran's ability to sell oil to fund its war with the United States and Israel.

Treasury targeted what it called a vast criminal network run by India-based Suniel Kumar Sharma, his wife Jaspreet Preeti Shahid, and two other Indian citizens, plus nine entities connected to Sharma. It said their schemes provided false flags and certifications to sanctioned vessels transporting Iranian petroleum, including vessels operating on behalf of the Iranian military and its proxies.

Turkish ground handler also sanctioned

Turkey-based Fugo Ground Services Inc was also sanctioned for ground handling and other services to US-sanctioned Iranian airlines continuing to fly to Türkiye, including Iran Air Tour, Saha Airlines, Taban Airlines and Ata Airlines, according to the reports.

Treasury Secretary Scott Bessent said the US would continue to go after anyone who supported Tehran, and the Office of Foreign Assets Control issued a new alert on the sanctions risk of dealing with potentially false-flagged vessels. The sanctions are US government action reported by Reuters; they are not a court finding against the named firms or individuals.

Sources: Reuters via WNCY, US slaps sanctions on Indian, Turkish firms and people for aiding Iran, 4 November 2026; AFP via Pakistan TV Middle East live blog, 4 November 2026.