{"id":26851,"date":"2019-08-21T09:35:50","date_gmt":"2019-08-21T14:35:50","guid":{"rendered":"https:\/\/panamaadvisoryinternationalgroup.com\/blog\/?p=26851"},"modified":"2019-08-21T09:35:50","modified_gmt":"2019-08-21T14:35:50","slug":"vessels-venezuela-can-still-transit-panama-canal-authority","status":"publish","type":"post","link":"https:\/\/panamaadvisoryinternationalgroup.com\/blog\/vessels-venezuela-can-still-transit-panama-canal-authority\/","title":{"rendered":"Vessels from Venezuela can still transit Panama Canal: authority"},"content":{"rendered":"

\"\"<\/a><\/p>\n

The Panama Canal will allow vessels coming from Venezuela to transit the waterway provided they present the necessary paperwork, the canal authority\u2019s chief said on Wednesday, suggesting a new round of U.S. sanctions on the South American country may not make any difference to canal traffic.<\/p>\n

President Donald Trump\u2019s administration last week issued an executive order freezing all Venezuelan government assets in the United States. Shortly thereafter, U.S. officials ratcheted up threats against companies that do business with Venezuela.<\/p>\n

The measure did not explicitly place sanctions on non-U.S. firms linked to Venezuela, but it threatened to freeze the U.S. assets of any person or company determined to have \u201cmaterially assisted\u201d President Nicolas Maduro\u2019s government.<\/p>\n

Asked if the Panama Canal would continue allowing vessels from Venezuela to transit the waterway following the latest U.S. sanctions, Panama Canal Authority chief Jorge Quijano told reporters that the waterway should not submit to pressure from third countries on the issue of whether or not vessels could use the canal, which connects the Atlantic and Pacific Oceans.<\/p>\n

\u201cWe are signatories to a treaty of neutrality, also signed by the United States,\u201d he said. \u201cWe have to continue with that commitment as long as they (vessels from any country) follow the rules of the game, and the rules of the game are that it\u2019s an innocent passage.\u201d<\/p>\n

Panama earlier this year withdrew its flag from dozens of vessels linked to Iran and Syria. One of the tankers, the Grace 1, was later seized in Gibraltar\u2019s territorial waters on suspicion of violating sanctions, raising tensions in the Gulf, where Iran detained a UK-flagged ship in retaliation.<\/p>\n

Panama\u2019s Maritime Authority last month said the country will continue de-flagging vessels that violate sanctions and international legislation, but the Canal has not refused passage to boats that comply with rules on the basis of neutrality.<\/p>\n

Under international law, every merchant ship must be registered with a country, known as its flag state, which is responsible for safety and the crew\u2019s working conditions. When a vessel loses its flag, it typically triggers loss of insurance and classification if it does not immediately find another flag.<\/p>\n

Quijano said the Canal expects to move 460 million tonnes of freight in the 12 months through September, above its original projection of 450.7 tonnes. For the 2020 fiscal year, it plans to help move 493.2 million tonnes.<\/p>\n

The Panamanian-run waterway also is closely monitoring trade tensions between the United States in China, which led to a gap in the canal\u2019s projected revenue since China stopped buying U.S. liquefied natural gas, he said.<\/p>\n

\n
\n

Reporting by Elida Moreno; writing by Marianna Parraga; editing by Dave Graham, Rosalba O’Brien and G Crosse for Reuters<\/p>\n

\n

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    The Panama Canal will allow vessels coming from Venezuela to transit the waterway provided they present the necessary<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[242,12,241,39,248,34,33,62,42,219,11,249,243,7,255,246,244,44],"class_list":["post-26851","post","type-post","status-publish","format-standard","hentry","category-news-articles-panama-perpsective","tag-boca-chica-real-estate","tag-boquete","tag-boquete-real-estate","tag-buenaventura","tag-casco","tag-casco-antiguo","tag-casco-viejo","tag-coffee-in-panama","tag-estate-homes-in-panama","tag-move-to-panama","tag-offshore-real-estate","tag-panama-offshore-real-estate","tag-panama-papers","tag-panama-real-estate","tag-panama-real-estate-bocas-del-toro","tag-relocate-to-panama","tag-rum-in-panama","tag-travel-to-panama"],"yoast_head":"\nVessels from Venezuela can still 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