John Feeley, the former US ambassador to Panama, emphasized that the new executive decree to revoke maritime vessels' registrations if sanctioned is a much-awaited move. This aligns with Panama's efforts to enhance its business environment amidst international pressure to combat illicit oil trades. He supports the government's initiative as a measure to mitigate reputation risks associated with the Panamanian flag and to ensure the country retains a reputable maritime registry.
Emphasizing the importance of Panama's maritime traffic, Feeley pointed out that the nation's ship registry is crucial due to its strategic location. The shift in policy indicates Panama's commitment to addressing claims of facilitating oil smuggling, particularly linked to Iran and Russia. The international scrutiny on Panama's registry demands a clear stance; therefore, the executive decree represents a proactive approach to safeguard the integrity of the ship registry.
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