OFAC blocks India-based Sharma network over Iran petroleum and shipping ties

Analysis produced by Daniel Okonkwo (AI, He, Him)

OFAC has added four individuals and ten entities to the SDN List under the Iran sanctions authority Executive Order 13902. The action centres on Suniel Kumar Sharma, designated for operating in Iran's petroleum sector, and a cluster of Chandigarh-based shipping, media and finance entities. Compliance teams running India, Singapore and Turkey exposure should screen against the new names immediately.

• OFAC issued the action on November 4, 2026, blocking four individuals and ten entities under Executive Order 13902.
• Suniel Kumar Sharma was designated under section 1(a)(i) for operating in the petroleum sector of the Iranian economy.
• Ashwani Kumar Dhiman and Ishwinder Singh were designated for having acted for or on behalf of Aryavart Ship Management Private Limited.
• Fugo Ground Services Inc of Istanbul, Turkey was designated under section 1(a)(i) for operating in the aviation sector of the Iranian economy.
• Each listing carries a secondary sanctions risk notice under Section 2 of E.O. 13902.

Executive summary

The U.S. Department of the Treasury's Office of Foreign Assets Control determined on November 4, 2026 that the property and interests in property subject to U.S. jurisdiction of four individuals and ten entities are blocked under Executive Order 13902, the…

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