Turkey resolves Russian tanker dispute

RUSSIA / FSU POLITICS - In Brief 13 Dec 2022 by Alex Teddy
On December 13 Turkey said that the Western oil price cap will no longer prevent tankers sailing through the Turkish waters from the Black Sea to the Aegean. 20 tankers were anchored in the Black Sea as Turkey said they could not come through until they proved that they had insurance. Turkey is worried lest there be an oil spill or other accident and no insurance to pay for it. EU diplomats met insurers and Turkish bureaucrats to try to resolve the issue. The EU wanted the oil price cap maintained. The Turks wanted to allow Russian oil through but without Turkey being jeopardized. There is now a confirmation letter from the Turkish Ministry of Transport that will allow ships from Russian ports to sail through Turkish waters. The EU and the G7 agreed not to insure ships carrying Russian oil to be sold for over USD 60 per barrel. The aim was to minimize Russian profits that fund the war. Bulgaria is the only EU country to buy any Russian oil in December 2022. Turkey is the NATO country with the best relationship with Russia. 

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