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March 25, 2023
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Oil tankers queue up off Turkey as price cap on Russian crude begins

Turkish authorities demand that insurers prove that ships heading through straits are fully covered

A traffic jam of oil tankers has grown off Turkey after the imposition of a price cap on Russian crude by western powers attempting to hurt the Kremlin’s coffers.

The vessels have come to a halt after Turkish authorities in Ankara demanded that insurers prove that the ships heading through its straits are fully insured.

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