Finance
Panama begins canceling registration of six UK-sanctioned vessels
Published by Global Banking & Finance Review®
Posted on November 30, 2024
1 min readLast updated: January 28, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on November 30, 2024
1 min readLast updated: January 28, 2026
Panama cancels the registration of six vessels sanctioned by the UK to maintain the integrity of its ship registry.
PANAMA CITY (Reuters) - Panama started the expedited cancellation process of six Panamanian vessels included in the "consolidated list of financial sanctions targets in the United Kingdom," the Panama Maritime Authority said in a statement on Friday.
The move comes after new President Jose Raul Mulino issued a decree in October calling for vessels targeting by international sanctions to be removed from the country's ship registry, the largest in the world.
The six ships targeted on Friday were added to the UK's sanctions targets list on Monday.
"The state has the responsibility to ensure the well-being of the Panamanian Registry, (to keep it) free from international sanctions and ships linked or included in sanctions lists that can affect the prestige of the flag," said Panama's Merchant Marine director general Ramon Franco.
"This is a priority issue for this administration."
(Reporting by Elida Moreno; Writing by Brendan O'Boyle; Editing by Anthony Esposito and Sarah Morland)
The main topic is Panama canceling the registration of six vessels that are on the UK's sanctions list.
Panama is canceling these registrations to protect the integrity and reputation of its ship registry.
The decree was issued by Panama's new President, Jose Raul Mulino.
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