Turkey considers free raise to reduce strait traffic

Yildiz said the country might raise fees on vessels passing through the Istanbul Strait to reduce traffic.

Turkey considers free raise to reduce strait traffic

Turkish Energy Minister Taner Yildiz said the country might raise fees on vessels passing through the Istanbul Strait to reduce traffic.

"We are ready to comply with the Montreaux Convention. The convention includes a provision on what is described as 'francs gold' which constitutes a high barrier. Hopefully, we won't be left in a position to resort to that provision unless we are forced to do so," Yildiz told reporters on Friday.

Yildiz said raising fees on cargo passages through the straits would come as a relief to Turkey however adding that it would also raise costs for companies.

"We need to find an optimum to secure that Istanbul is not at risk," he said.

Yildiz said Turkey earned $150 million a year from some 150 million tons of oil that passed through the Bosphorus, adding an average of 18 large tankers traversed through the straits.


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Last Mod: 07 Ocak 2011, 17:59
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