There was a traffic jam with oil tankers in the Bosphorus due to checking the availability of insurance
On the day of entry into force of the sixth package of sanctions of the European Union against the Russian Federation, banning the provision of services for the transportation of Russian oil by sea, as well as its insurance, brokerage services and financing of operations, oil tankers gathered near the coast of Turkey. It is noted that the traffic jam is caused by delays due to the verification of the insurance of all vessels by the Turkish authorities. The FT, citing information from ship brokers and oil traders and data from satellite ship tracking systems, reports about 19 oil tankers waiting to pass through Turkish waters on December 5. Immediately, four senior sources in the oil sector said that in light of the imposed sanctions, Turkey is demanding new confirmations of full insurance coverage for any vessels sailing in its waters.
"Congestion from tankers is the first sign that the price ceiling may disrupt global oil flows from the Russian Federation," the publication notes.
It will be recalled that TTS wrote that Turkey planned to close the Bosphorus and Dardanelles straits for vessels carrying oil if they did not have insurance.