Panama's new executive decree aims to crack down on illicit maritime activities by stripping sanctioned ships of their registration. The move comes amid international pressure to curb oil smuggling and other illegal trades. John Feeley, former US Ambassador to Panama, hails the decision as a "welcome step" to improve the business climate. However, some experts argue that it may have unintended consequences for vessel owners and operators. Panama's maritime authority has been tasked with implementing the decree, which aims to maintain the country's reputation and protect its registry.

Source: https://www.aljazeera.com/news/2024/10/22/us-welcomes-panamas-decree-to-strip-sanctioned-ships-of-registration?traffic_source=rss