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The EU price cap on Russian oil is already disrupting the market - tankers are piling up off Turkey after Ankara demands insurance paperwork

1 month ago   |   By Business Insider

Turkish President Recep Tayyip Erdoğan TIMOTHY A. CLARY/ Getty Images
The EU's price cap on Russian crude and its ban on seaborne Russian crude kicked in Monday.
Oil tankers have begun piling-up off Turkish shores, as Ankara demands proof of insurance coverage.
Shipping insurers rejected the request, as Turkey's asking for coverage that could expose them to a breach of sanctions.
A European Union price cap on Russian oil kicked in on Monday and it's already causing shipping disruption - oil tankers are piling up off the coast of Turkey as Ankara is demanding paperwork that the vessels are...
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