In a large nonstick skillet over medium-high heat, heat oil. Add the beef and cook, breaking into smaller pieces with a wooden spoon, until no longer pink and any liquid evaporates, about 6 minutes. Stir in onion, garlic and basil. Cook, stirring occasionally, 2 minutes. Add the tomatoes and tomato paste. Bring to boiling, then reduce heat to medium and simmer until thickened, about 15 minutes. Stir in salt.