Bloomberg: Turkey began to let tankers with oil through its straits
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The queue of tankers waiting to transport oil through the Bosphorus and the Dardanelles has begun to decrease, reports Bloomberg referring to a Turkish official from the shipping industry. According to the agency, this gives hope that Ankara has resolved the conflict related to ship insurance.
According to Bloomberg, on December 11, 19 tankers were waiting to pass through the Bosporus and Dardanelles. A day earlier, there were 27. An official with knowledge of the situation confirmed to the publication that previously blocked tankers began to pass.
The congestion of tankers, most of which carry oil from Kazakhstan, has been created by Turkey’s requirement for full insurance to protect the ships from risks such as collisions and spills. Turkey demanded a letter from insurance companies confirming the insurance of tankers. According to Bloomberg, on December 10, she sent a sample of it to insurers, which suggests that a compromise has been reached.
On December 5, a $60 per barrel cap on the price of crude oil produced in the country began to apply to Russia. For those who pay more than the ceiling, under the sanctions, P&I (P&I Club – mutual insurance club) insurance for tankers will be invalid. It was important for Turkey to be able to understand which shipments of fuel were purchased under the restriction and therefore had standard insurance and which did not.
Read about the price ceiling for Russian oil in the material “Kommersant FM” “Oil is sold with a limit”.
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