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Turkish Straits See Oil Tanker Congestion Amid Price Cap

OIL

An oil tanker traffic jam has formed in Turkey following the EU’s introduction of a price cap on global Russian crude supplies, according to the Financial Times.

  • In November Turkey announced to demand proof of insurance for oil tankers passing the Bosphorus and Dardanelles straits.
  • Around 19 oil tankers were waiting in line for Turkish border control to check the tanker’s insurance covers on 6 Dec.

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