On March 14, the U.S. Treasury sanctioned a Greek businessman and 14 companies for helping Iran evade international oil sanctions. Dr. Dimitris Cambis used front companies and Iranian funds to purchase oil tankers and disguise the Iranian origin of crude oil. The vessels involved were capable of transporting about $200 million worth of oil per shipment. “Today we are lifting the veil on an intricate Iranian scheme that was designed to evade international oil sanctions,” said Treasury Under Secretary for Terrorism and Financial Intelligence David S. Cohen.
The U.S. State Department concurrently imposed sanctions on two Iranian companies for providing insurance or reinsurance to the National Iranian Tanker Company. “These sanctions make clear the risks involved in working on behalf of certain Iranian entities, and will further hamper Iran’s ability to circumvent sanctions,” according to a statement by Spokesperson Victoria Nuland. The State Department took action based on the Iran Threat Reduction and Syria Human Rights Act of 2012.
Iranian oil exports actually increased in February, according to a new report by the International Energy Agency. They rose to 1.28 million barrels a day from 1.13 million barrels a day in January. New U.S. sanctions imposed on February 6 may not have had an immediate impact. The following are excerpts from statements by the Treasury and the State Department.
The U.S. Department of the Treasury today imposed sanctions on a Greek businessman, Dr. Dimitris Cambis, who helped Iran evade international oil sanctions. Through several of his front companies, Cambis used Iranian funds to purchase oil tankers and disguised the Iranian origin of oil transported on these vessels. Cambis, and all of the companies listed today, have been identified as acting on behalf of the Government of Iran and are subject to sanctions pursuant to Executive Order 13599, which blocks the property of the Government of Iran. The Department of State is taking concurrent action today against Cambis under the Iran Sanctions Act as amended by the Iran Threat Reduction and Syria Human Rights Act of 2012 (TRA).
“Today we are lifting the veil on an intricate Iranian scheme that was designed to evade international oil sanctions,” said Treasury Under Secretary for Terrorism and Financial Intelligence David S. Cohen. “We will continue to expose deceptive Iranian practices, and to sanction those individuals and entities who participate in these schemes.”
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Statement by U.S. Department of State Spokesperson Victoria Nuland
Today, the United States imposed sanctions on Greek national Dr. Dimitris Cambis and Impire Shipping for disguising the Iranian origin of crude oil by concealing the control of a vessel by the National Iranian Tanker Company (NITC). The United States also imposed sanctions on Kish Protection and Indemnity Club (Kish P&I), and Bimeh Markazi-Central Insurance of Iran (CII) for providing insurance or reinsurance to NITC. The Department of State is acting under the Iran Sanctions Act, as amended by the Iran Threat Reduction and Syria Human Rights Act of 2012 (TRA), and the TRA. The United States imposed a visa ban on the corporate officers of Impire Shipping, Kish P&I, and CII identified as:
Impire Shipping:
· Dimitris Cambis -President
Kish P & I:
· Mohammad Reza Mohammadi Banaei – Managing Director
CII:
· Seyed Mohammad Karimi – President
· Rahim Mosaddegh – Vice President
· Mina Sadigh Noohi – Vice President
· Esmaeil Mahdavi Nia – Vice President
· Seyed Morteza Hasani Aghda – Superintendent
…
These sanctions make clear the risks involved in working on behalf of certain Iranian entities, and will further hamper Iran’s ability to circumvent sanctions. Iran is failing to meet its international nuclear obligations, and as a result there has been an unprecedented international sanctions effort aimed at convincing Iran to change its behavior. The sanctions announced today represent an important step toward that goal.
Today’s sanctions action sends a clear message: the United States will act resolutely against attempts to circumvent U.S. sanctions. Moreover, any business that continues to support Iran’s energy sector, enable the movement of its oil tankers or facilitate Iran’s efforts to evade U.S. sanctions could face serious consequences.
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