Bbabo NET


The West is unhappy that non-Russian oil is stuck in the Bosphorus

Ukraine (, - Tankers with Kazakh oil stuck in the Bosphorus Strait, wrote Western officials are unhappy that raw materials that are not subject to anti-Russian sanctions cannot pass through Turkey, according to the Financial Times.

Western authorities blame the Turkish authorities for blocking the passage of tankers with non-Russian oil and disrupting sea supplies. This British edition reports with reference to officials.

“These failures are the result of Turkey’s new rules, and not a price cap policy (on Russian oil)," he said.

U.S. Deputy Treasury Secretary Wally Adeyemo even called the Turkish Deputy Foreign Minister to clarify that the Russian oil price limit does not require increased inspections of ships.

As reported, since December 1, more than ten tankers have been stuck near the Bosphorus in the Black Sea and the Dardanelles in the Sea of Marmara, and, judging by Vesselfinder, their number continues to grow. At the same time, only one of them is carrying Russian oil products, which are also not subject to sanctions until February 5. Everything else is Kazakh oil. It belongs mainly to Western oil companies that produce in Kazakhstan or sold it at the point of shipment - at the terminal of the Caspian Pipeline Consortium (CPC) near Novorossiysk.

The essence of the blocking of tankers with Kazakh oil is that from December 1, the Turkish authorities require additional confirmation letters from oil carriers from insurers that they will cover all cases if they occur in Turkish waters. Thus, Ankara, obviously, decided to insure against an emergency with a tanker if it transports Russian raw materials without insurance.

Meanwhile, tankers carrying Russian oil are passing through the straits. Most of them are insured by Ingosstrakh and reinsured by the Russian National Reinsurance Company (RNRC). And those, obviously, provided letters of guarantee to the Turkish authorities.

But Western insurers refused to do so. 95% of shipping insurance is provided by the International Group of Mutual Insurance Clubs (P&I Club).

“The Turkish government's demands go far beyond the general information usually contained in a confirmation letter. They require P&I Club to confirm that damages coverage will not be biased under any circumstances, including in the event of a violation of sanctions by the insured person, whether knowingly and intentionally or unknowingly and unintentionally, ”the P&I Club said in a statement, which published December 5th. The group explained that issuing a confirmation letter would result in the P&I Club violating EU, UK and US sanctions and laws.

“Therefore, the clubs cannot fulfill the requirement of the Turkish authorities and provide confirmation letters,” the P&I Club said. They added that negotiations with the Turkish side are ongoing.

The specificity of the situation lies in the fact that most of the oil produced in the country belongs to the world's energy giants, which act as customers of transportation. Thus, in the Tengiz project, 75% belongs to the American Chevron and ExxonMobil. At Karachaganak, 76.5% is distributed between the Italian Eni, the Dutch-British Shell and the American ExxonMobil. And in Kashagan, in turn, American, European and Japanese companies already own more than 90%.

The West is unhappy that non-Russian oil is stuck in the Bosphorus