South Korea to Import 6 Million Barrels of Crude Oil from UAE in Emergency Move to Stabilize Prices

Deep News

Mar 06

South Korea will import more than 6 million barrels of crude oil from the United Arab Emirates to help stabilize oil prices, the presidential office announced on Friday.

Kang Hoon-ju, chief of staff to the president, disclosed the plan during a press briefing. The decision comes amid heightened concerns over a potential energy crisis, following military strikes by the United States and Israel against Iran and subsequent retaliatory actions by Tehran in the region.

“Under the directive of President Lee Jae-myung, we have held consultations on crude oil import measures and confirmed an emergency import of over 6 million barrels,” Kang stated. He emphasized that the move is expected to contribute to oil price stability.

Kang also noted that a passenger aircraft carrying South Korean nationals has departed from Dubai and is scheduled to arrive at Incheon International Airport, west of Seoul, on Friday evening. The South Korean government previously coordinated with the UAE to ensure the safe arrival of the passengers.

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