Panama Sets Rules to Expedite Revoking Sanction Busters’ Registration

"Earlier in 2024, U.S. officials met with Panama to discuss the issues that have come under increased scrutiny as Western authorities worked to stop the so-called shadow fleet maintaining Russia’s oil trade as well as the ongoing efforts to limit Iran’s oil trade. As the largest registry by number of vessels, Panama had historically had a large number of vessels that became involved in these trades. The NGO UANI (United Against Nuclear Iran), for example, highlights that a quarter of all the vessels it has tracked in the Iranian oil trade are registered in Panama."