Panama expedites revokation of six vessels on UK sanctions list

The Panama Maritime Authority (AMP), which enforces shipping legislation in the Central American country, is taking action against six of the 30 vessels the United Kingdom included in its most recent sanctions package targeting Russia’s so-called ’shadow fleet’ of sanctions-evading tankers. 

In October, Panama’s President Jose Raul Molino issued Executive Decree No 512, mandating the expedited cancellation of vessels on international sanctions lists. Specifically, the law mandates the cancellation of vessels or registered owners sanctioned in lists issued by or in the US Department of the Treasury’s Office of Foreign Assets Control, the United Nations Security Council and its committees, the EU’s Consolidated Financial Sanctions List and the UK’s Financial Sanctions Targets list.

At the time, the PMA said the new legal mechanism means vessels listed in Panama’s ship registry that appear on international sanctions lists will have their registration and navigation licences immediately revoked. 

The country said it is following through on revokation of sanctioned vessels included in the UK Santions List. 

The AMP said the Directorate General of the Merchant Marine in Panama has recommended the cancellation of six Panama-flagged tankers included in UK sanctions on 25 November. 

“The state has the responsibility to guarantee the well-being of the Panamanian Registry, free of international sanctions and of vessels linked to or included in sanctions lists that may affect the prestige of the flag. This is a priority issue for this administration,” said the Director General of the Merchant Marine, Ramón Franco.

Since the publication of the country’s Executive Decree 512, Panama said it has cancelled three ships and said it has eight  more in the process of cancellation.