Panama will withdraw its flag from more vessels that violate sanctions and inter...
PANAMA CITY - Panama will withdraw its flag from more vessels that violate sanctions and international legislation, the country’s maritime authority told Reuters, following the removal of about 60 ships linked to Iran and Syria from the Panamanian registry in recent months.
Most of those vessels were owned by Iranian state-run companies but they also included ships linked to oil deliveries to Syria, the sources added. The vessel arrived in Gibraltar showing the Panama name at its hull, but the Panamanian government later clarified it had been removed from its registry on May 29.
Iran called on Britain on Friday to immediately release the Grace 1 and warned of reciprocal measures after three Iranian vessels on Thursday tried to block a British-owned vessel passing through the Strait of Hormuz.As the United States seeks to increase pressure on Iran, Panama says it is trying to maintain its registry clean from sanctioned ships and companies involved in wrongdoing.
The Central American country offers foreign vessel owners easy registration, the ability to employ foreign labor, and does not tax the income of the foreign owners.
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