It sounds like you may want runpy.run_module [1], rather than using imports at all. If you know how many levels up you want to go, it isn't hard to do your own munging of __name__ to create absolute module references to pass to runpy.

The signature of __import__ is known to be unintuitive to the point of being insane - it's really designed for the convenience of the compiler and the interpreter, not for direct use by humans.

[1] http://docs.python.org/release/2.6.7/library/runpy#runpy.run_module