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Reuters
Reuters
Business

Tanker delays across Turkish straits not due to Russia oil price cap - official

FILE PHOTO: Crude oil tanker Ottoman Sincerity is pictured in the northern anchorage as she waits for to cross Bosphorus Strait, in Istanbul, Turkey December 6, 2022. REUTERS/Yoruk Isik

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.

Of the 20 loaded crude oil tankers facing delays in the region, all but one appear to be carrying Kazakh - not Russian - origin oil and would not be subject to the price cap "under any scenario," the official said.

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