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Panama to Cancel Flags on US-sanctioned LNG ships

November 6, 2024

Panama's Maritime Authority said on Wednesday it has begun a process to cancel flags on four LNG vessels sanctioned by the United States over their links with Russian gas producer Novatek.

The vessels North Air, North Mountain, North Way and North Sky, which have been operating under Panama's flag, had previously been identified as part of Russia's dark tanker fleet, according to media reports quoted by the authority.

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Sources say that traders are pushing for lower prices for Venezuelan crude oil, as shipping costs have risen.