wordpress in the reportAccording to shipping brokers, oil traders and satellite tracking services, about 19 crude oil tankers are waiting to cross Turkish waters on Monday.
The G7 nations, Australia and the 27 European Union countries began capping the price of Russian seaborne crude oil at $60 a barrel this week, the latest Western measure to punish Moscow for the war in Ukraine.
The agreement allows the shipment of Russian oil to other countries using tankers from the G7 countries, the member states of the European Union, insurance companies and credit institutions, if the shipment is purchased at the ceiling specified for the price of a barrel or less.
Russia said on Monday that Western price caps on its oil would destabilize global energy markets but would not affect its ability to complete the “special military operation” in Ukraine.
The Financial Times report said four oil chief executives said Turkey had demanded new proof of full insurance coverage for any ships navigating its straits in light of the measures.
The ships docked near the Bosphorus and Dardanelles straits, the two straits that connect Russia’s ports in the Black Sea to global markets.
The report quoted a freight broker, who asked not to be named, as saying that the first tanker had arrived on November 29 and had been waiting since then.
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