GUYANA · SANCTIONS
Key Facts
- Sanctioned: The US Treasury listed India-based Suniel Kumar Sharma, his wife Jaspreet Preeti Shahid, two associates and nine entities.
- Allegation: Treasury says the network sold false flags and fake certificates to tankers carrying Iranian oil.
- Guyana: The Maritime Administration Department said it fully supports the action and that its flag was misused.
- Tanker: US forces seized the Majestic X on 22 April, carrying Iranian oil under a false Guyana flag.
- Dates: Treasury acted on Wednesday 4 November 2026; Guyana responded on Thursday 5 November.
Guyana backs US sanctions on an India-based couple the United States accuses of faking ship registrations under the Guyanese flag to move Iranian oil. The US Treasury announced the action on Wednesday 4 November 2026.
Guyana’s Maritime Administration Department said on Thursday 5 November that it “fully supports” the Treasury’s move. Guyana says the tanker at the centre of the case was never registered in Guyana.
What the US Treasury Did
OFAC, the Treasury’s sanctions office, named Suniel Kumar Sharma and wife Jaspreet Preeti Shahid as running a network selling false flags and fake maritime certificates. It also listed two associates, Ashwani Kumar Dhiman and Ishwinder Singh, and nine companies and organizations.
Treasury says the network let sanctioned tankers carrying Iranian oil sail under flags they could not lawfully fly, some for Iran’s military and its proxies. These are Treasury’s allegations, and the people and companies named have not been convicted of any crime.
Treasury listed them under Executive Order 13902 on Iran’s oil and other sectors, blocking their property in the United States or held by US persons. US companies are generally barred from dealing with them, and so are firms they own 50% or more.
Treasury separately listed Fugo Ground Services, a company in Türkiye, for supporting Iran’s aviation sector. The nine network entities include Oceaniek Technologies India, Aryavart Ship Management and a Singapore-based registry called Eswatini Maritime Affairs and International Ship Registry.
How Guyana’s Flag Was Used
Treasury cites the tanker Majestic X, formerly called Phonix, which US forces seized on 22 April 2026. Guyana’s maritime agency, MARAD, said the next day that the ship was never registered in Guyana and that its registration was false.
MARAD explained that Guyana runs a closed registry, open only to vessels owned by Guyanese nationals, residents, citizens of the Caribbean Community or Guyanese companies. It said none of the ship’s purported owners qualified and that false Guyana registrations have been recognised since 2021.
In its statement of 5 November, MARAD said the network falsely represented vessels as registered in Guyana. It also said Guyana will keep working with international partners to stop its flag being used for crime or to evade sanctions.
Other Flags Faked by the Same Network
Treasury links the network to false or disowned flag offices tied to Eswatini, Laos, Aruba, Nicaragua and Sint Maarten. It adds that websites tied to the network pretended to offer flag services for Mali, Mozambique, Malawi and Timor-Leste.
Treasury says the scheme goes back to at least 2014, when the couple tried to pose as Dominica’s flag administration. Its release also mentions four other tankers: Ping Shun, Lattafa, Binary Star and Vera.
In Plain English, Who Is Who
A ship’s flag shows which country’s laws it sails under, and the registry that issues it must check ownership and safety. A false flag lets a tanker hide its real owner and avoid inspections.
OFAC is the Treasury office that enforces US sanctions. Operation Economic Outcast is Treasury’s campaign against Iran’s backers, and Secretary Scott Bessent said: “We know where you are, and we will sanction those who continue supporting the Iranian regime, whether by land, sea, or air.”
What It Means for You
For US readers, the case shows how sanctions on Iran reach into shipping registries as far away as the Caribbean. OFAC also issued a new alert warning industry to check for falsely flagged vessels.
MARAD says such fraud undermines the integrity of national ship registries and raises risks for maritime security. Our reports on Guyana’s local content rules for oil contracts and on India’s US$500 million credit line for Guyana show where the country stands.
What Is Not Known
It is not yet known whether the listed couple and companies will contest their designations. Their lawyers or OFAC itself would be first to say, and no response had been published by Friday 6 November.
It is also not known how many other ships still sail under a false Guyana flag. MARAD, which has tracked false registrations since 2021, can say how many cases it has logged.
More: Latin America news in English, every day from The Rio Times.
Frequently Asked Questions
Who did the US sanction over the Guyana flag?
The Treasury listed India-based Suniel Kumar Sharma and his wife, Jaspreet Preeti Shahid, along with two associates and nine entities. The action was announced on 4 November 2026.
What is the allegation?
Treasury says the network sold false flags and fake certificates to sanctioned tankers carrying Iranian oil. The accused have not been convicted of any crime.
Does Guyana sell its flag to foreign shipowners?
No, according to MARAD. It says Guyana’s registry is closed to all but vessels owned by Guyanese nationals, residents, Caribbean Community citizens or Guyanese companies.
Which tanker was seized?
US forces seized the Majestic X on 22 April 2026 while it carried Iranian oil under a false Guyana flag. Guyana says the ship was never on its registry.
Sources: US Department of the Treasury, press release “Operation Economic Outcast Targets Global Maritime Fraud Network Supporting Iranian Regime”, Wednesday 4 November 2026; Guyana Maritime Administration Department, press statement on US Treasury sanctions against the network responsible for fraudulent use of the Guyana flag, Thursday 5 November 2026; Guyana Department of Public Information, MARAD press release on the fraudulently registered vessel seized by US authorities, Thursday 23 April 2026.
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