Panama Refutes Claims Of Iranian Ships In Its Fleet Amid US Concerns
The Panama Maritime Authority has dismissed the US claims that it has listed Iranian vessels in the registry. This came after a request was raised urging Panama to prevent sanctioned Iranian vessels from flying the country’s flag.
Abram Paley, employed as a special envoy with the US State Department, stated last week that their key goal is to prevent vessels from supporting entities designated as Iranian terrorist organizations through the means of participating in illegal oil transactions.
As one of the leading global vessel registries, with more than 8,000 vessels flying the flag, Panama offers what is known as the flags of convenience.
The practice permits vessel owners to register their vessels in foreign nations for a certain fee, bypassing scrutiny and regulatory oversight. Panama’s maritime authority disclosed in January last year that it had delisted 136 vessels that seemed to have connections with Iran’s state oil majors over the past four years.
The US government also mentions that Iran channels its revenues from oil sales to finance several groups, including the Yemeni Houthis, as well as organizations like Hezbollah and Hamas.
Specialists also suggest that the use of flags of convenience has helped defaulters evade many ecological and labour regulations, as well as ownership transparency in the broader maritime industry.
Reference: IranIntl
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