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U.S. Imposes Penalizes Greek Businessman For Helping Iran Evade Sanctions

The United States announced it has imposed sanctions on a Greek businessman for helping Iran evade international oil sanctions by purchasing oil tankers and disguising their cargos.

Dimitris Cambis, president of Impire Shipping Ltd., will have his assets in the U.S. blocked, the United States said in a statement on March 14.

The United States said Cambis used Impire Shipping and other front companies to buy eight tankers each capable of carrying $200 million worth of oil per shipment and used them to load Iranian crude.

Washington also imposed sanctions on two Iranian insurance companies -- Kish Protection and Indemnity Club, and Bimeh Markazi-Central Insurance of Iran (CII) -- for providing insurance to the National Iranian Tanker Company (NITC).

The United States and its allies have imposed sanctions against Iran over its sensitive nuclear work.

With reporting by Bloomberg
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