GEORGETOWN, Guyana, Nov 5, CMC – Guyana has welcomed United States sanctions against two India-based individuals accused of operating a global maritime fraud network that falsely registered vessels under the Guyanese flag, including ships linked to the transportation of Iranian petroleum and sanctions evasion.
The US Department of the Treasury announced on Wednesday that it had sanctioned Suniel Kumar Sharma and his wife, Jaspreet Preeti Shahid, under Operation Economic Outcast, accusing them of establishing fraudulent maritime registries and providing false flags and certifications to vessels supporting Iran’s so-called shadow fleet.
Guyana’s Maritime Administration Department (MARAD), in a statement issued on Thursday, welcomed the action, saying the couple had been instrumental in managing a network that fraudulently represented vessels as registered in Guyana through a company called the International Maritime Safety Agency of Guyana (IMSAG).
The agency said the unauthorised use of Guyana’s flag undermined the integrity of national ship registries and compromised maritime security.
According to the US Treasury, Sharma and Shahid have, for years, defrauded maritime regulatory administrations in several jurisdictions by establishing false flagging authorities and maritime classification societies.
Their operations allegedly involved websites and entities purporting to provide registration, certification and other maritime services on behalf of countries that had not authorised them to do so.
The Treasury said the network’s activities extended beyond Guyana to several other jurisdictions, including Aruba, Eswatini, Laos, Mali, Mozambique, Malawi, Sint Maarten and Timor-Leste.
It also identified several companies linked to the couple, including Oceaniek Technologies India, Eswatini Maritime Affairs and International Ship Registry PTE. Ltd., and Aryavart Ship Management Private Limited, which were also sanctioned.
The US authorities cited the case of the MAJESTIC X, formerly known as PHONIX, which was falsely flying the Guyanese flag when it was seized by the US Department of War on April 22, 2026, while carrying Iranian oil.
The Treasury said false flags and fraudulent maritime certifications allow vessels engaged in illicit activities to evade international regulations governing crew safety and environmental protection.
It also warned that vessels operating under false flags may lack valid protection and indemnity insurance, potentially exposing countries whose territorial waters they enter to billions of dollars in damages in the event of an incident.
Sharma was sanctioned for operating in Iran’s petroleum sector, while Shahid was designated for materially supporting his activities. The sanctions were imposed under Executive Order 13902, which targets key sectors of the Iranian economy.
MARAD said Guyana had consistently raised the issue of fraudulent vessel registration at regional and international maritime and shipping forums as part of efforts to strengthen cooperation against the practice.
In July 2026, Minister of Public Utilities and Aviation Deodat Indar presented a case study titled Fraudulent Registration: Guyana’s Perspective at the Global Maritime Security and Sanctions Enforcement Symposium in Antigua and Barbuda.
The matter was also raised at the recently concluded 56th Annual General Meeting of the Caribbean Shipping Association, hosted in Guyana.
MARAD and the Ministry of Public Utilities and Aviation said they supported the US action against Sharma, Shahid and their associated entities.
Guyana said it remained committed to working with international partners, maritime administrations and enforcement agencies to prevent the fraudulent use of its national flag and uphold international maritime standards.
CMC/ed/2026