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Turkey will continue to require tankers carrying crude oil to provide proof of insurance covering the duration of their transit through the Bosphorus or when calling at Turkish ports.

Turkish maritime authorities have reached an agreement on the matter with the relevant partners.

They confirmed that four ships have not yet submitted the necessary documentation to pass through the strait.

The total number of stranded tankers has dropped to eight from yesterday's 13, local media reported, citing the shipping agency Tribeca.

Since early December, Turkey has introduced a measure whereby ships must provide proof of insurance covering the duration of their transit through the Bosphorus or when they call at Turkish ports.

Tankers without proper documentation may be denied entry to Turkish waters or required to provide new P&I insurance letters covering their journeys through the country.

The number of oil tankers waiting to cross the Bosporus fell to 13

Ankara's decision came after the EU imposed an embargo on oil supplies from Russia from December 5, which also includes an oil price ceiling mechanism.

This mechanism includes a ban on the provision of services for the transportation of Russian oil by sea, as well as on insurance, brokerage services and financial operations by companies in the EU, except when selling the energy resource at a price not higher than a certain ceiling ($60 per barrel).

Bosphorus

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