Russian oil price ceiling causes tanker 'bottleneck' in Türkiye, says FT.
According to the Financial Times, this is the first sign that price controls could affect not only Russian exports, but also alter global oil flows.
Sputnik - According to the Financial Times, a bottleneck of oil tankers is forming in Turkish waters after several countries imposed a price ceiling on Russian oil.
The newspaper reported that vessel traffic was interrupted because Turkey required tankers to present insurance coverage and indemnification documents for suppliers.
The insurance, also known as P&I Clubs insurance, confirms that its coverage will remain in effect for incidents such as oil spills and collisions.
Thus, 19 ships loaded with oil are still waiting to enter the Bosporus and Dardanelles straits.
According to the Financial Times, this is the first sign that price controls could affect not only Russian exports, but also alter global oil flows.
It is worth noting that, on Friday (2), the G7, together with the EU and Australia, imposed a ceiling of US$ 60 (R$ 316) per barrel on the price of Russian oil.
These restrictions are expected to include a time-limited exception for transactions involving oil shipped from ports and loaded onto a vessel before the respective date.