Panama’s maritime authority, the PMA, has taken decisive action against a company, a Panamanian citizen, and 17 vessels registered under the Panamanian ship registry.
The authority has responded to the recent inclusion of the company, the citizen, and the 17 ships on the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctions list.
As announced, the measures implemented include the initiation of the deregistration process for the 17 sanctioned vessels, in accordance with executive decree no. 512 dated October 18, 2024, and the enforcement of corresponding actions against the economic group affiliated with the sanctioned company.
As a preventive measure, the PMA has reinforced its control mechanisms to prevent the inclusion of unauthorized actors under the Panamanian flag.
All vessels applying for registration, as well as their owners, operators, and charterers, must now undergo a rigorous due diligence process.
“The PMA reaffirms its strong commitment to a zero-tolerance policy regarding the misuse of the Ship Registry and remains firm in excluding vessels, companies, service providers, and other stakeholders listed on international sanctions lists recognized by the Panamanian State,” the PMA said in its statement.
