Turkish authorities implemented a measure on 1 December 2022 whereby tankers with crude oil had to present an insurance confirmation letter before being granted permission to transit the Bosphorus and Dardanelles.
The requirements were brought in ahead of the $60 per barrel price cap on Russian seaborne crude, with the Turkish Ministry of Transport and Infrastructure wanting to confirm that the P&I insurances remained valid during transit of the Turkish Straits. KA