Panama key to Iran's sanctions-busting oil fleet, watchdog says

US-based watchdog group on Thursday accused Panama of playing a key role in enabling sanctions evasion by Iranian oil tankers while Tehran’s oil ministry announced a significant rise in crude exports. The organization United Against Nuclear Iran (UANI) said 17% of a fleet of vessels it suspects of smuggling sanctioned Iranian oil are currently flying the Panamanian flag.

In a statement, UANI described Panama’s maritime registry as the “most commonly used national registry among this shadow fleet,” citing tactics such as flag-hopping, fake ownership records, and manipulation of automatic identification systems (AIS). “Panama has long been the flag of choice for sanctions violators and oil smugglers,” said UANI CEO Mark D. Wallace. “We’ve repeatedly provided the AMP [Panama Maritime Authority] with names, evidence, and warnings. Their lack of consistent, proactive enforcement continues to undermine global sanctions compliance.” UANI’s tanker tracker lists 542 foreign-flagged vessels suspected of involvement in sanctioned oil shipments from Iran.