US Threatens Sanctions against Countries Including Panama That Support the Net Zero Framework
For Panama, a member of the IMO Council, the result will be decisive. Its vote will reflect its environmental policy and its geopolitical position vis-à-vis the major economic blocs.
The U.S. administration has issued an ultimatum to members of the International Maritime Organization (IMO): Countries that vote in favor of the “Net Zero Framework” could face economic, immigration, and trade sanctions. The NZF, driven by European countries, seeks to impose a global carbon tax on shipping. Its goal is to finance the decarbonization of vessels.
If approved, it would be the first time a UN agency has imposed a global tax on the shipping sector. The White House called the initiative a ” neocolonial export of European regulations .” It warned that it could raise transportation costs by up to 10% and disrupt the global economy. “The United States will not accept any agreement that imposes unfair burdens or harms its people,” the White House said.” There will be costs for countries and officials who support this proposal. “Possible US sanctions. Among the measures being considered by Washington are:
- Blockade of US ports to ships from countries that support the NZF.
- Trade investigations and sanctions .
- Immigration restrictions for crew members, with new visas and fees.
- Penalties on federal shipbuilding and gas terminal contracts.
- Personal sanctions against officials promoting climate policies affecting the U.S.
Panama in the Spotlight
Weeks ago, Panama President José Raúl Mulino declared that Panama would support the Net Zero Framework. He stated that the country “supports international efforts to decarbonize maritime transport” and highlighted its role as a strategic hub for global trade.
