Panama Delists 17 US-Sanctioned Ships from Its Registry

by Ship & Bunker News Team
Tuesday August 5, 2025

The Panama Maritime Authority (PMA) has taken immediate action to deregister 17 Panama-flagged vessels that were recently sanctioned by the US for allegedly facilitating the transport of Iranian oil.

The move follows a July 30 announcement by the US Department of the Treasury's Office of Foreign Assets Control, which imposed sanctions on several ships, entities, and individuals linked to Iran's oil trade, PMA noted in a press release on Monday.

In addition to delisting the vessels, PMA said it has taken corresponding action against Panamanian citizen Varela De Leon, who was named in the US sanctions, as well as the affiliated firm GMCG Holding Corp, which is associated with him.

"As a preventive measure, the PMA has reinforced its control mechanisms to prevent the inclusion of unauthorised actors under the Panamanian flag," PMA said.

"All vessels applying for registration, as well as their owners, operators, and charterers, must now undergo a rigorous due diligence process."

Panama is stepping up efforts to crack down on the shadow fleet allegedly involved in transporting Russian and Iranian oil in violation of sanctions. As part of these measures, the PMA recently banned the registration of tankers and bulk carriers aged 15 years or older.

Ship & Bunker News Team
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