Since the European Union began banning almost all deliveries of Russian seaborne oil, in a new package of sanctions against Russia because of the war it is waging over Ukraine, the plan was easy on paper, which is to stop Russia's financial resources by keeping the price of its oil low instead of withdrawing it from the market.

And if analysts agree to say that it is still too early to predict the impact of this mechanism, but its first repercussions are beginning to appear.

Since Wednesday, oil tankers have been waiting in the Black Sea to be allowed to cross the Bosphorus and Dardanelles straits in Turkey.

Currently, Turkey is demanding that ships wishing to sail on this main trade route for transporting Russian oil show that they are insured, including in case of violation of the price cap mechanism by providing a "protection and compensation insurance"policy.

Protection and indemnity clubs are non-governmental and non-profit mutual insurance associations that provide marine insurance to their members, who are shipowners, operators, charterers and seafarers of member companies. Protection covers the safety of seafarers while compensation covers loss.

While traditional marine insurance companies provide Hull and engine coverage to shipowners as well as cargo to their owners, protection and indemnity clubs offer protection against open risks that traditional insurance companies are reluctant to insure.

However, Western clubs refuse to provide general insurance to all shipowners.

The London p&I club stressed that clubs" cannot and should not grant "such insurance because it would be a"violation of Western sanctions".

Marcus Baker, global head of the Marine and shipping department at Marsh insurance, believes that the clubs are adopting a "pragmatic" position here.

In fact, all commercial ships are required to have this special marine insurance that covers the risk of war or collision and environmental damage such as an oil spill.

Between 90 and 95% of the "protection and compensation clubs" are owned by insurers in the European Union and Britain who no longer have the right to insure shipments of oil sold at a price exceeding 60 dollars per barrel.

Baker explains that the mechanism for setting a ceiling on the price of Russian oil "further complicates an already complicated situation", something that is supposed to slow down Russian oil exports and"have the effect that the group of seven would like in any case".

Many analysts also point to an increase in the number of illegal oil tankers, whose ownership is unclear.

"There are enough shipping capabilities in the so-called stealth fleet for Russia to be able to sell its oil without taking into account the price ceiling,"an official of a shipping company specializing in refined petroleum products, who asked not to be named, told AFP.

In addition, there are ships that are indifferent to the sanctions, as there are refiners who are ready to pay a higher price instead of transporting Russian oil, because they will still be profitable compared to other types of oil sold at much higher prices.

According to this official, the shipping costs "could be between seven and ten times the normal price".