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US Treasury Working on Bosphorus Blockage Negotiations

OIL

The price cap on Russian oil imposed by Western powers does not necessitate checks of every tanker passing through Turkish waters according to The US Treasury.

  • It also said that Turkey had informed them it was working quickly to resolve the issue.
  • “We’ve been in touch with Turkey about how the price cap only applies to Russian oil, and explained that the cap doesn’t necessitate additional checks on ships passing through Turkish waters," the treasury said. "Our understanding is that virtually all of the delayed tankers are not carrying oil from Russia and are not affected by the cap."
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