Kazakhstan working on resolving oil tanker traffic jam issues in Türkiye - KazMunayGas's CEO

By Trend

About 8 to 10 Kazakh oil tankers are unable to pass through Bosporus and Dardanelles straits, however, the situation does not pose significant risks, Magzum Myrzagaliev, Chairman of the Board of Kazakhstan's KazMunayGas JSC said, Trend reports, citing Kazakh media.

Myrzagaliev said that the reason for the delay is the Turkish side’s request to provide additional documentation on the cargo and its insurance. He stated that currently Kazakhstan is working closely with insurance providers to address the concerns of Turkish authorities, and added that the current issue does not bear financial losses for Kazakhstan.

The head of KazMunayGas stated that the situation is far from critical, because, in December 2021, it took about 14 days to pass through the Turkish-controlled straits.

The traffic jam in Bosporus and Dardanelles occurred due to the EU-proposed oil price cap for Russian oil, which entered into force on December 5, and the subsequent demand of Türkiye to provide insurance documents that the ships entering are insured, in case of any type of emergency.