Panama Cancels Six Vessels Under UK Sanctions

The Panama Maritime Authority (PMA) has initiated the expedited cancellation of six Panamanian-flagged vessels recently added to the UK's sanctions list, following a decree from President Jose Raul Mulino aimed at protecting the integrity of the Panamanian ship registry. These vessels were added to the UK Consolidated List of Financial Sanctions Targets on November 25, prompting the PMA to act under Executive Decree 512, which allows for the prompt revocation of registrations and licenses for sanctioned ships. Ramón Franco, Director General of Merchant Marine, emphasized the state's responsibility to maintain a sanctions-free registry to preserve its prestige. Since the decree's enactment in October, Panama has already canceled three vessels and is processing eight more. This move underscores Panama's commitment to uphold international standards and avoid associations with sanctioned entities.