UPDATE 1-Russia is concerned over oil tankers build-up in Bosphorus - RIA
(Adds quote, details)
MOSCOW, Dec 7 (Reuters) - Russia is concerned about a
build-up of oil tankers in the Bosphorus Strait and is
discussing the issue with insurance and transport companies, RIA
cited Russian deputy foreign minister Alexander Grushko as
saying on Wednesday.
At least 20 oil tankers queuing off Turkey face more delays
to cross from Russia's Black Sea ports to the Mediterranean as
operators race to adhere to new Turkish insurance rules added
ahead of a G7 price cap on Russian oil, industry sources said on
Turkish maritime authorities issued a notice seen by Reuters
last month asking for additional guarantees from insurers that
transit through the Bosphorus would be covered starting from the
beginning of this month.
"We are aware of this situation. Of course, it causes us
concern from the point of view of the interests of our
operators. This problem is being discussed with transport and
insurance companies. After all, insurance companies insure, not
the state," Grushko is quoted as saying.
"If the problem is not solved, of course, there will be
involvement on the political level."
Disruptions in tanker traffic from Russia's Black Sea
ports to the Mediterranean are a result of a new Turkish
insurance rule, not the price cap on Russian oil agreed by a
coalition of G7 countries and Australia, an official with the
group said on Tuesday.
(Reporting by Vladimir Soldatkin; Editing by Toby Chopra)
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.