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Turkey reopens key route for oil, grains transit after coup attempt

Istanbul - The Bosphorus is one of world’s most important chokepoints for the maritime transit of oil with over three percent of global supply - mainly from Russia and the Caspian Sea - passing through the 17-mile waterway that connects the Black Sea to the Mediterranean.

Istanbul - Turkish maritime authorities have reopened Istanbul’s Bosphorus Strait to transiting tankers after shutting it earlier on Saturday for several hours following what the government said was an attempted coup by a faction in the military. The Bosphorus is one of world’s most important chokepoints for the maritime transit of oil with over three percent of global supply - mainly from Russia and the Caspian Sea - passing through the 17-mile waterway that connects the Black Sea to the Mediterranean. It also ships vast amounts of grains from Russia and Kazakhstan to world markets... READ MORE

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