U.S. Sanctions Covert Iranian Oil Network

The United States on Thursday slapped financial sanctions on a Greek businessman for secretly operating a shipping network on behalf of the Iranian government to get around international sanctions on the country's sale of oil.

"Today, we are lifting the veil on an intricate Iranian scheme that was designed to evade international oil sanctions," U.S. Treasury undersecretary for terrorism and financial intelligence David Cohen said in a statement.

The move named Dimitris Cambis and a number of companies for purchasing oil tankers on behalf of the National Iranian Tanker Company, and bars U.S. citizens from doing business with any of them (Reporting by Alister Bull; Editing by Vicki Allen)