Oil Tankers Blocked Near Turkey by Proof-of-Insurance Rule
- US, UK talking to Turkish authorities about the situation
- Turkey wants proof tankers are insured through key straits
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Oil shipments from Russia and Kazakhstan are getting ensnared in a Turkish government rule to provide proof that tankers are insured when navigating the vital Bosphorus and Dardanelles shipping straits.
The measure, which came into force on Friday, compels ships carrying crude oil to have a letter from their insurer guaranteeing cover while in Turkey’s waters.