Turkey will continue to request insurance confirmation letters from crude oil tankers transiting its Bosphorus Strait, the Maritime Authority said, welcoming a new agreement with its counterparts that allows the regulation to continue.
Four ships are still expected to present an insurance confirmation letter to pass through the Bosphorus, which bisects Istanbul, it added.
Turkey started requesting proof of insurance from tankers loaded with Russian crude oil as Moscow expressed concern about a build-up of oil tankers in the Bosphorus Strait.
At least 20 oil tankers queueing off Turkey face more delays to cross from Russia’s Black Sea ports to the Mediterranean as operators race to adhere to new Turkish insurance rules added in advance of a G7 price cap on russian oil.
Russia is discussing the issue with insurance and transport companies. If the problem is not solved, of course, there will be involvement on the political level.
Turkish maritime authorities issued asking for additional guarantees from insurers that transit through the Bosphorus would be covered starting from the beginning of this month.
Disruptions in tanker traffic from Russia’s Black Sea ports to the Mediterranean are a result of a new Turkish insurance rule, not the price cap on Russian oil agreed by a coalition of G7 countries and Australia, an official with the group said on Tuesday.
But a Turkish official denied that the measure was slowing the passage of oil ships to world markets through the Bosphorus and Dardanelle Straits.