Bottleneck of Tankers As Turkey & West Haggle Over Both Oil and the Straits Issue

[Webster]

(The Guardian) The number of oil tankers waiting in the Black Sea to cross Istanbul’s Bosphorus strait on the way to the Mediterranean rose by five to 16 on Thursday, a shipping agency said, according to a Reuters report.

Talks are continuing between western and Turkish officials on steps to resolve the tanker queues after new restrictions were rolled out aimed at Russian oil exports.

The G7 group of countries, the European Union and Australia agreed to bar shipping service providers like insurers from helping export Russian oil unless it is sold at an enforced low price, or cap, to deprive Moscow of wartime revenue.

But a separate Turkish measure in force since the start of the month has caused a logjam, requiring vessels to provide proof they have insurance covering the duration of their transit through the Bosphorus strait or when calling at Turkish ports.

The Tribeca shipping agency named five new tankers longer than 200m waiting north of the Bosphorus strait to cross southbound towards the Mediterranean Sea, in addition to the 11 named a day earlier. It said no ships were scheduled to cross. At the Dardanelles strait further south, nine tankers were waiting to cross southbound, down from 12 a day earlier, the agency said. Three tankers were scheduled to pass through that strait on Thursday, two en route from Tuapse in Russia to Fujairah in the UAE and one en route from Tuzla in Turkey to Sidi Kerir in Egypt.

 

[PGen98]

More and more issues with oil...yay...

 

[Webster]

More and more issues with oil...yay...

Turkey has first position on this; under the Montreux Convention, they control all transit in and out of the Black Sea.

 

[PGen98]

Turkey has first position on this; under the Montreux Convention, they control all transit in and out of the Black Sea.

Understandable, of course, just irritating that here we are with every possible excuse to keep bumping up oil prices. Hopefully there's a resolution soon

 

[Webster]

Understandable, of course, just irritating that here we are with every possible excuse to keep bumping up oil prices. Hopefully there's a resolution soon

Back in March, Russia wanted to send some of its' fleet in the Eastern Med back into the Black Sea (as a Black Sea power, they're allowed that under the Convention) but the Turks told them (since they can restrict military access) that they could...if they wanted their fleet "promoted to submarine" (a/k/a sunk).

 

[PGen98]

Back in March, Russia wanted to send some of its' fleet in the Eastern Med back into the Black Sea (as a Black Sea power, they're allowed that under the Convention) but the Turks told them (since they can restrict military access) that they could...if they wanted their fleet "promoted to submarine" (a/k/a sunk).

Well done, Turkey!