The Treasury Department is targeting a shipping company for its alleged connection to a network of front companies that were used to evade Iranian oil sanctions, the Wall Street Journal reports:
Treasury said Thursday that Sambouk Shipping FZC is connected to Dimitris Cambis, who, along with a network of other front companies, was sanctioned in March for purchasing eight oil tankers, covertly filling them with Iranian oil for shipment overseas.
Mr. Cambis has denied the accusations.
Treasury on Thursday said Mr. Cambis was using the newly formed Sambouk Shipping to manage the vessels.
The government identified eight other ships as "blocked property" in which the National Iranian Tanker Co. has an interest.
