Panama has removed some 60 Iranian vessels from its Ship Registry, which were flagged by the country in 2016. With the re-imposition of U.S. sanctions in November 2018, Panamanian authorities decided to remove the vessels, most of which are tankers, to avoid being placed on the U.S. Treasury Department blacklist. Panama has informed its consuls around the world not to accept any payment for taxes or fees from vessels coming from Iran or from Iranian companies. Panama's Ship Registry is the largest in the world, with more than 8,000 vessels.