Panama issues decree for ‘immediate cancellation’ of sanctioned ships

"According to tanker trackers at US monitoring group United Against Nuclear Iran, Panama went from flagging 40% of the ships engaged in Iranian oil trades at the beginning of the year to 26% as of the end of last month. Panama’s announcement came ahead of president José Raúl Mulino’s trip to Europe, where he is seeking to remove Panama from the EU’s list of non-co-operative jurisdictions for tax purposes."