U.S. Sanctions Greek Businessman for Helping Iran Ship Oil

The U.S. Treasury Department imposed sanctions on a Greek businessman, saying he helped Iran evade sanctions by purchasing oil tankers and disguising their cargoes.

Dimitris Cambis, president of Impire Shipping Ltd., will have his assets in the U.S. blocked, the Treasury said in a statement today. Cambis used Impire Shipping and other front companies to buy eight tankers capable of carrying $200 million-worth of oil per shipment and use them to load Iranian crude from the country’s own ships, the department said.