Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
The Israeli Walla! website: We are running out of stockpiles, our forces are exhausted, and the lives of the captives are in danger. It is time for a ceasefire deal in Gaza.
Several wounded in an Israeli bombardment of a tent in al-Mawasi, south of Khan Younis in the Gaza Strip.
Israeli media: Three wounded, three killed in an ongoing operation in the Gaza Strip.
Al Mayadeen's correspondent in southern Lebanon: Israeli artillery shelling targets the outskirts of the town of Shebaa
Al-Qassam Brigades: The targeting took place at the intersection of 'Street 5' with the western line north of Khan Younis
Al-Qassam Brigades: A NIMR armored personnel carrier carrying an Israeli soldier was targeted with an Al-Yassin missile north of Khan Younis
Israeli media: At least two soldiers killed by anti-tank missile fired at Israeli army forces in the Gaza Strip
Local Syrian sources: Mortar shells fell on more than nine villages in the Sweida countryside
Local Syrian sources: Dozens of dead and wounded have arrived at Sweida hospitals as a result of ongoing clashes at several locations in the western Sweida countryside
Local sources: Civilians, including children and women, were injured in the al-Maqous neighborhood of Sweida, in Syria, as a result of ongoing clashes

Oil tankers jam off Turkey after price cap on Russian oil: FT

  • By Al Mayadeen English
  • Source: Financial Times
  • 6 Dec 2022 12:06
  • 1 Shares
2 Min Read

Around 19 crude oil tankers are waiting to cross Turkish waters after the price cap on Russian oil took effect on Monday.

  • x
  • Around 19 crude oil tankers were waiting to cross Turkish waters on Monday (Getty Images)
    Around 19 crude oil tankers were waiting to cross Turkish waters on Monday (Getty Images)

Turkish waters are witnessing a traffic jam of oil tankers after the West imposed a price cap on Russian oil that came into effect on Monday, with Turkish authorities requesting insurers to promise that vessels navigating its straits were fully covered, the Financial Times reported.

Under EU sanctions, 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 Financial Times cited four oil industry executives as saying that Turkish authorities had demanded new proof of insurance in light of the price cap.

The newspaper said, 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.

Related News

'Turkey has won': Erdogan hails PKK disarmament

Iraq welcomes PKK’s disarmament as step toward regional stability

The first tanker arrived on November 29 and has been ever waiting since, the report quoted a ship broker who asked not to be named as saying.

According to the Financial Times, "Ankara has asked all crude tankers passing through the Turkish straits to provide letters from their protection and indemnity providers, known as P&I Clubs, confirming that insurance cover would remain in place to cover incidents such as oil spills and collisions."

Nonetheless, P&I Clubs explained in a statement that it was not possible to guarantee cover in the case of a sanctions breach.

The newspaper quoted Nick Shaw, the group’s chief executive, that P&I Clubs was in "ongoing constructive discussions with the relevant authorities to try and resolve the situation."

An informed source indicated that vessels with insurance from western providers were the ones stuck since, for oil barrels sold above 60$, companies based in the countries involved in the cap are prohibited from providing services of maritime transport like insurance.

Read more: Peskov responds to Scholz, Macron; price cap won't affect operation

  • Turkey
  • Russia
  • Bosporous and Dardanelles
  • Ukraine
  • Ankara
Russia & NATO

Russia & NATO

As the Draconian Western-led sanctions on Russia exacerbate the economic crisis worldwide, and as Russian troops gain more ground despite the influx of military aid into Ukraine, exposing US direct involvement in bio-labs spread across Eastern Europe and the insurgence of neo-Nazi groups… How will things unfold?

Most Read

Hezbollah SG reveals war details on Al Mayadeen for the first time

Hezbollah SG reveals war details on Al Mayadeen for the first time

  • Politics
  • 8 Jul 2025
Major ambush in Gaza kills 6 Israeli troops, injures dozens

Major ambush in Gaza kills 5 Israeli troops, injures 14

  • Politics
  • 8 Jul 2025
Israeli soldiers are seen in Beit Hanoun ahead of an operation by the al-Qassam Brigades, undated (Al-Qassam Brigades Military Media)

'Israel' on blast as media exposes report discrepancies in Gaza ambush

  • Palestine
  • 8 Jul 2025
Yemen Navy sinks ETERNITY C ship, shares footage of operation

Yemen Navy sinks ETERNITY C ship, shares footage of operation

  • Politics
  • 9 Jul 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
The Freedom Flotilla ship Handala as it departs for Gaza, where it aims to break the maritime blockade at a port in Syracuse, Sicily in southern Italy on July 13, 2025. (AFP)
Palestine

Freedom Flotilla's Handala departs Sicily in bid to break Gaza siege

The container ship CMA CGM Laperouse, left, docks at the Georgia Ports Authority's Port of Savannah, Sept. 29, 2021, in Savannah, Ga (AP)
Politics

US shipbuilding woes deepen as tariffs, outdated policies backfire

Gaza war raises ethical questions for ex-Obama, Biden officials
Politics

Mercenary firm tied to Gaza war crimes hires Obama-Biden PR operatives

'Israel' targets children in Gaza collecting water
Palestine

'Israel' strikes Gaza kids fetching water, blames it on 'malfunction'

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS