Western officials in talks with Turkey over oil tanker delays: UK

Western officials are in talks with Turkish counterparts to resolve an oil tanker queues off Turkey, a UK Treasury official said, after the G7 and European Union rolled out new restrictions aimed at Russian oil exports on December 5.

"The U.K., US and EU are working closely with the Turkish government and the shipping and insurance industries to clarify the implementation of the Oil Price Cap and reach a resolution, the official told Reuters.

"There is no reason for ships to be denied access to the Bosporus Straits for environmental or health and safety concerns."

U.S. officials did not immediately respond to a Reuters request for comment.

At least 20 oil tankers continue to face delays to cross from Russia's Black Sea ports to the Mediterranean as operators race to adhere to new Turkish insurance rules rolled out earlier in the month.

Western insurers say the requirements go beyond what had previously been needed to transit the area and an official with the coalition of G7 countries and Australia said the delays were not caused by a G7 Russian oil price cap measure aimed a depriving Moscow of wartime revenue.

Oil prices were largely steady after rising earlier in the trading session as the delays added to uncertainty in the market.

(Reuters)