Turkey to close straits to uninsured tankers with Russian oil – Bloomberg

For carriers of Russian oil, obtaining insurance will become a problem due to sanctions.

The new rules are related to compliance with EU and Great Britain sanctions against the Russian Federation / photo UNIAN, Serhii Nuzhnenko
The new rules are related to compliance with EU and Great Britain sanctions against the Russian Federation / photo UNIAN, Serhii Nuzhnenko

Against the background of a full-scale Russian invasion of Ukraine, from December 1, 2022, Turkey will require oil shippers to have insurance for passage through the Bosphorus and Dardanelles.

As  Bloomberg reports , the new rules are related to compliance with EU and Great Britain sanctions against the Russian Federation, although Turkey did not formally join them.

“The new rule comes into force on December 1, a few days before the European Union and Great Britain introduce additional restrictions on trade with Russia, which will make it much more difficult for tankers carrying the country’s oil to obtain insurance,” the article says.

The EU and Great Britain are introducing new sanctions on the supply of Russian oil from December 5, they will relate to the establishment of maximum prices for the energy resource.

“This will dramatically affect the availability of industry-standard insurance…vessels will still be able to obtain industry-standard coverage provided that the cargo carried is purchased at a price that has not yet been determined,” the material notes in connection with this , that the G7 countries intend to introduce a full embargo on the transportation of Russian oil – except for cases where it will be purchased below the set price. However, the level of the maximum price for Russian oil has not yet been determined.

(C)UNIAN 2022

One comment

  1. The ruSSians usually export their crap via land or via the Baltic Sea. Just an attempt by a Putin-asslicker country which neither imposed any sanctions against RuSSia nor approved Sweden’s and Finland’s accession to Nato, to blind people.

    Liked by 4 people

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.