Panama Expedited Cancellation of Sanctioned Vessels

Panama is taking swift action to remove six vessels from its registry, which are under UK sanctions, as per a directive from new President Jose Raul Mulino. This move aims to safeguard the reputation and integrity of the world's largest ship registry.

In a decisive move, Panama is expediting the removal of six vessels from its registry, all of which are listed in the United Kingdom's financial sanctions targets. The Panama Maritime Authority announced this action on Friday.

This initiative follows a decree by newly elected President Jose Raul Mulino, issued in October, mandating the exclusion of vessels targeted by international sanctions from the country's register. The affected ships were only included on the UK's sanctions list earlier this week.

Ramon Franco, Panama's Merchant Marine director general, emphasized that maintaining the state's registry free from international sanctions is crucial for preserving its prestige and integrity. He reiterated that this matter is a top priority for the current administration.

(With inputs from agencies.)