UPDATE 1-Panama says withdrawing flag from tanker towed to Iran, cites violations

Panama's maritime authority said on Saturday it had begun the process of withdrawing the registration of an oil tanker called MT Riah, which was towed to Iran after it disappeared from ship tracking maps in the Strait of Hormuz on July 14. Panama began the flag withdrawal process on Friday after an investigation determined the tanker had "deliberately violated international regulations" by not reporting any unusual situation, the authority said in a statement. Panama, which has the largest shipping fleet in the world, has recently withdrawn flags from dozens of vessels, some of which were operated by Iran.

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