Number of stranded oil tankers in Black Sea falls
Bloomberg report says that oil tankers that were stuck in the black see following the price cap on Russian oil has begun to decrease in number.
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Oil tankers wait in Turkey's Black Sea (Reuters)
The number of oil tankers stuck in Turkey's Black Sea Straits is subsiding, Bloomberg reports, citing a shipping official familiar with the situation.
According to a report by Bloomberg citing officials, the number of oil tankers stranded in Turkey's straits in the black sea is decreasing.
Turkey's maritime authority announced on Friday that at least 18 tankers filled with 2 million tons of oil were stuck in the Black Sea on the way to the Mediterranean due to insurance issues following the price cap imposed on Russian oil by Western states.
Read more: Preparations for Russian gas hub project in Turkey on the way: Erdogan
The officials said that while the number of stranded tankers was 27 on Saturday, the number fell to 19 on Sunday.
The Financial Times reported on December 5, citing ship brokers, oil traders, and satellite tracking services, that around 19 crude oil tankers were waiting to cross Turkish waters on Monday, dropping anchors near the Bosphorus and Dardanelles, the two straits linking Russia’s Black Sea ports to international markets.
In another context, Turkey's General Directorate of Navigation said that The only Russian-flagged oil tanker is scheduled to pass through the Bosphorus on Monday.
In a statement, obtained by Sputnik, the directorate said that "the passage of the only Russian oil tanker waiting in our territorial waters south through the Bosporus is scheduled for Monday, a letter of insurance has been provided."
"Four of the waiting tankers in the queue are currently scheduled to pass through the Bosporus on Monday after their owners provide a letter of insurance," the statement added.
The agency announced that the remaining 12 tankers would be waiting at sea at the anchorage and that nine of the ships were on their route to EU nations.
Read more: Peskov responds to Scholz, Macron; price cap won't affect operation
Under EU the price cap decision on Russian oil that took off on December 5, tankers loading Russian crude oil are barred from accessing Western maritime insurance unless the oil is sold under the G7’s price cap of $60 a barrel.
The Turkish Maritime Authority accused on Thursday EU companies of refusing to provide insurance documents for the passage of oil tankers through the Black Sea Straits and declared the unacceptability of applying pressure on Ankara.
On December 1, Turkey started requesting from oil shippers crossing the Bosphorus Strait and the Dardanelles a letter from an insurer confirming that the vessel is covered by the necessary Protection and Indemnity Insurance (P&I).
Read more: Germany urges partners to comply with price cap on Russian oil
Western nations have been trying to find ways to reduce Russia's income from oil and gas exports since the start of the war in Ukraine.
Russia had pledged to stop exporting its oil to countries that would apply price caps on its oil.
The Bloomberg report added that Turkey issued on Saturday a "sample letter" that can be considered as proof that the tanker is covered for transit.
