Alexey Belogoryev, Research and Development Director of the Institute for Energy and Finance, commented to Kommersant FM on the increase in tariffs for the oil tankers passage through the Turkish Straits.
Turkey has doubled tariffs for the passage of tankers with Russian oil through the straits. Charterers' costs rose to a 10-month high. This worsens the economy of Urals oil exports from Novorossiysk, according to data from traders, the Riverlake agency and Reuters calculations.
The increase in tariffs is really amazing, Alexey Belogoryev admitted:
"Prices have increased sixfold on average in three years after they had hardly changed for 40 years. It probably shocks the shipowners a bit. This is due, on the one hand, to the fact that inflation was not previously taken into account in tariffs, that is, this is such a delayed growth. On the other hand, Turkey uses its monopoly right and in some way tries to increase budget revenues, apparently. The issue here is not only in the transportation of oil, not even so much in this.
From the point of view of the cost of goods, costs are increasing more, rather, from suppliers of other goods, non-primary ones. In particular, this is related to container transportation, food and so on.
But, of course, this is also a painful measure for oil supplies, and not so much for Russia as for Kazakhstan. Russia supplies raw materials in the range of 0.5 million barrels per day through the Bosphorus, and Kazakhstan exports more than 1 million barrels through Novorossiysk."
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