Panama begins canceling registration of six UK-sanctioned vessels

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)