South Korea has struck a deal to ship around four million barrels of oil from the United Arab Emirates (UAE), bolstering supplies as the US-Israel war on Iran upends energy markets, AFP reports.
Heavily reliant on oil shipped through the strait, South Korea said it had dispatched tankers to secure alternative supplies of fuel.
“We plan to immediately berth two South Korean-flagged oil tankers — each with a capacity of two million barrels — at alternative ports within the UAE that do not require passage through the Strait of Hormuz,” said presidential chief of staff Kang Hoon-sik.
