The Convention consists of 29 Articles, four annexes and one protocol. Articles 2–7 consider the passage of merchant ships. Articles 8–22 consider the passage of war vessels. The key principle of freedom of passage and navigation is stated in articles 1 and 2. Article 1 provides, "The High Contracting Parties recognise and affirm the principle of freedom of passage and navigation by sea in the Straits". Article 2 states, "In time of peace, merchant vessels shall enjoy complete freedom of passage and navigation in the Straits, by day and by night, under any flag with any kind of cargo".
The International Straits Commission was abolished, which allowed the full resumption of Turkish military control over the Straits and the refortification of the Dardanelles. Turkey was authorised to close the Straits to all foreign warships during a war or when it was threatened by aggression. Also, Turkey was authorised to refuse transit from merchant ships belonging to countries at war with it.
A number of highly-specific restrictions were imposed on what type of warships are allowed passage. Non-Black Sea powers wishing to send a vessel must notify Turkey 15 days prior of their sought passing, and Black Sea states must notify within 8 days of passage. Also, no more than nine foreign warships, with a total aggregate tonnage of 15,000 tons, may pass at any one time. Furthermore, no single ship heavier than 10,000 tonnes can pass. An aggregate tonnage of all non-Black Sea warships in the Black Sea must be no more than 45,000 tons, with no one nation exceeding 30,000 tons at any given time, and they are permitted to stay in the Black Sea for 21 days. Only Black Sea states may transit
capital ships of any tonnage, escorted by no more than two destroyers.
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Under Article 12, Black Sea states are also allowed to send submarines through the Straits with prior notice as long as the vessels have been constructed, purchased or sent for repair outside the Black Sea. The less restrictive rules applicable to Black Sea states were agreed as effectively a concession to the Soviet Union, the only Black Sea state other than Turkey with any significant number of capital ships or submarines.
[17][20] The passage of civil aircraft between the Mediterranean and the Black Seas is permitted only along routes authorised by the Turkish government.
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