U.S. imposes sanctions on Greek businessman over Iran trade

PanARMENIAN.Net - 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, Bloomberg reported.

Dimitris Cambis, president of Impire Shipping Ltd., will have his assets in the U.S. blocked, the Treasury said in a statement.

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.

“These are very bad rumors created by our competitors because we are trying to take market share and they don’t like it,” Cambis said by phone from his office in Athens. He said he was unaware of the sanctions against him.

The U.S. and allies are trying to curb Iran’s oil exports, the country’s largest source of revenue, to pressure the government in Tehran to stop enriching uranium. Negotiators will meet in Kazakhstan next month to discuss steps toward an agreement on Iran’s nuclear program, which the country says is for civilian use while Western leaders suspect military intent.