Panama is set to cancel the registration of 128 ships that are sanctioned by the…

🇵🇦Panama is set to cancel the registration of 128 ships that are sanctioned by the US, its allies, or the United Nations, according to Ramón Franco, the general director of the Panama Maritime Authority.
🚢 At least 70 of these vessels, including tankers, have already been removed, and more are expected to follow. This move aligns with Panama’s commitment to penalize blacklisted vessels, though it will result in a loss of up to $2 million in revenue.
➡️Panama, which manages one of the world’s largest flag registries, is responding to growing scrutiny of the “shafow fleet” — ships used to transport sanctioned cargo, particularly in relation to Russia and Iran’s oil and energy sectors.
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