EU statement on the oil tanker crisis in the Strait

The European Commission affirmed that the formation of queues of oil tankers that intend to reach the Mediterranean through the Bosphorus but remain in the Black Sea is not due to the price ceiling mechanism that the G7 countries apply to Russia’s oil exports.

When the G7 countries began imposing price ceilings on Russian oil on December 5, Turkey required that, starting in early December, tankers loaded with crude oil going through the Strait present an insurance document proving that their oil policies compensation for losses are also valid. for that transit. Although Turkey did not allow the passage of tankers that could not document that their insurance policy was valid, the number and waiting time of tankers waiting to pass through the Strait began to increase.

According to data from the Tribeca maritime agency, the number of oil tankers waiting in the Black Sea to pass through the Bosphorus has risen to 20.

The European Commission spokesman, who made a statement to Reuters by email, said: “The reason for this situation is not the price ceiling of the G7 countries; Because, within the scope of the application, there is a transition period of 45 days for oil exported by sea purchased from Russia before December 5.

During the G7 transition period until January 19, oil exported from Russia before December 5 will be able to offer services such as insurance, even if it was bought above the maximum price.

A European Commission spokesman added that after the transition period, the Turkish authorities will be able to confirm the insurance of tankers “as they have done before.” “We are in contact with the Turkish authorities to clarify the problem and we are trying to resolve the situation,” the spokesman said.

As tanker queues in the straits get longer, Turkish authorities announced yesterday that they will continue to keep tankers without proper insurance documents out of Turkish waters and time is needed for checks. (Reuters)