South Korea Secures 18 Million Barrels from UAE Amid Hormuz Crisis

• South Korea will receive an additional 18 million barrels of oil from the United Arab Emirates.
• This move aims to stabilize energy needs as West Asia tensions disrupt key energy routes and push oil prices higher.
• Around 70% of South Korea’s crude oil imports pass through the Strait of Hormuz, which Iran has effectively closed.
• The shipments will be delivered via diversified supply channels, with 6 million barrels on UAE-flagged vessels and 12 million on Korea-flagged vessels.
• South Korea has also secured an agreement for emergency crude oil purchases from the UAE and access to jointly held strategic reserves.