‘UK in talks with Turkey over oil tanker delays’

*Oil tanker queues off Turkey

London — British officials are in talks with Turkish counterparts to resolve oil tanker queues off Turkey, The Telegraph newspaper reported, after the G7 and European Union rolled out new restrictions aimed at Russian oil exports on Dec. 5.

The report quoted a Treasury spokesperson saying Britain, the United States and EU were working with Turkey and the shipping services industry to resolve the issue, adding there was no reason for ships to be denied access to the Bosphorus Straits.

Reuters was not immediately able to verify the report.

At least 20 oil tankers continue to face delays to cross from Russia’s Black Sea ports to the Mediterranean as operators race to adhere to new Turkish insurance rules rolled out earlier in the month.

Western insurers say the requirements go beyond what had previously been needed to transit the area and a U.S. Treasury official said the delays were not caused by a G7 Russian oil price cap measure aimed a depriving Moscow of wartime revenue.

*Noah Browning; editing: David Evans – Reuters

This article was originally posted at sweetcrudereports.com

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