Western oil tankers stuck in Turkish waters

British officials were yesterday locked in talks with counterparts in Ankara as a traffic jam of Western oil tankers stuck in Turkish waters threatened to escalate into a diplomatic row.

Demands for additional paperwork from vessels have left nearly two dozen crude oil tankers stuck in the region. All are seeking passage to Russia’s Black Sea ports via the Turkish straits.

Ships have been held up by demands for extra paperwork that shows insurers are covering the vessel. Authorities are demanding the additional documentation after the imposition of a Western cap on Russian oil on Tuesday.

A US$60 ($95) per barrel price cap imposed by the G7, Australia and the EU on Russian seaborne crude oil marks the latest measures to punish Moscow over its invasion of Ukraine.

Since the price cap came in,

Ankara has asked ships for additional paperwork in to secure passage through its waters. It is understood Turkish officials have accepted letters of confirmation from Russian insurers, but tankers with cover from Western insurers are being held up.

Representatives of the industry in London said Turkey’s demands were excessive and amounted to demands that insurers agree to cover sanctions breaking. — Telegraph Group Ltd