Turkey Allows Oil Tankers to Pass through Bosphorus Strait

Turkey allowed oil tankers, stopped in its territorial waters, to pass through the Bosphorus Strait.

According to Bloomberg ,on Saturday, Turkey sent a legal text to  companies and shipping agents, which was approved as an official insurance policy.

Turkey's maritime authority said on Sunday that four tankers, carrying some 475,000 tonnes of oil, had provided the necessary insurance letters according to regulations and would cross the Istanbul Strait on Dec. 12.

On December 1, Turkey required all oil tankers passing through its territorial waters to provide insurance documents that allow them to cross.

The Financial Times reported that the Turkish coasts are crowded with oil tankers, following the entry into force of the ceiling imposed on the Russian oil price on December 5.

Russia confirmed that it is the only party that has the right to set the price of its oil, and that it will not accept dictates and restrictions from any other party, even if it is forced to reduce its oil production.