The Panama Maritime Authority (AMP) has taken immediate action in response to the recent inclusion of a company, a Panamanian citizen, and 17 vessels registered in the Panama Vessel Registry on the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) sanctions list.
Actions taken include:
- The process of canceling the registration of the 17 sanctioned vessels has begun, pursuant to Executive Decree No. 512 of October 18, 2024.
- Implementation of the corresponding measures against the economic group and the sanctioned company.
The AMP has proactively strengthened its oversight mechanisms to prevent the inclusion of undesirable actors under the Panamanian flag. Every vessel applying to the Registry, as well as its owners, operators, and charterers, must undergo a thorough due diligence process.
The AMP reiterates its firm commitment to a zero-tolerance policy against the misuse of the Vessel Registry, as well as to the exclusion of vessels, companies, suppliers, and other interested parties included on international sanctions lists recognized by the Panamanian State.
