Ankara: Maritime Traffic Jam in Bosporus Caused by Refusal of Companies to Provide Insurance

ANKARA, MOSCOW (Sputnik) - The Turkish Maritime Authority on Thursday accused EU companies of refusing to provide insurance documents for the passage of oil tankers through the Black Sea Straits, and declared the unacceptability of applying pressure on Ankara.

Earlier in the day, American media reported, citing oil traders, that a traffic jam from oil tankers formed off the coast of Turkey after Ankara introduced restrictions on oil prices from Russia due to requirements to provide insurance data.

"Insurance companies refuse to issue such letters, which are issued on a routine basis," the statement said.

The Turkish authorities noted that it will continue to require insurance documents.

On December 1, Turkey started requiring from oil shippers crossing the Bosphorus Strait and the Dardanelles a letter from an insurer confirming that the vessel is covered by the necessary Protection and Indemnity Insurance (P&I). On Monday, media reported that some 19 oil tankers were stuck in the Turkish straits after new restrictions that had gone into effect as part of the collective West's price cap on Russian oil.

The G7 nations (as well as the EU and Australia) imposed the cap on Russian oil at $60 per barrel. Moscow stressed it won't accept the step and would be only selling oil to those nations that are ready to trade in accordance with market conditions. Russia also warned that such a move would result in even further crisis in global energy supplies.