South Korea urgently imports 6 million barrels of crude oil from the UAE to stabilize energy supply.

South Korean media: South Korean government announced it will import 6 million barrels of crude oil from the UAE to stabilize oil prices

On the 6th, Kim Hoon-ji, head of the President's Secretariat, said regarding the unstable situation in the Middle East caused by the attacks by the US and Israel on Iran, "In order to assist our citizens stranded in the Middle East to return safely, we have coordinated with the UAE," and stated, "The final decision was made late last night to resume civil aviation flights departing from the UAE."

Kim Hoon-ji said at a press conference that "a large passenger plane from the UAE carrying our citizens has already taken off from Dubai and is heading to South Korea," and "it is expected to land at Incheon International Airport around 07:30 tonight."

He added, "We will also add more Korean Air charter flights and continue to coordinate with the UAE to try to bring all our citizens back as soon as possible."

Kim Hoon-ji also revealed that the government would purchase crude oil from the UAE, stating, "According to President Lee Jae-myung's instructions, we have coordinated on the plan for importing crude oil, and finally decided to urgently import more than 6 million barrels of crude oil."

Kim Hoon-ji explained, "We will immediately arrange two Korean-flagged oil tankers, each carrying 2 million barrels, to dock at alternative ports within the UAE that do not require passing through the Strait of Hormuz, and load about 4 million barrels of crude oil stored at the port by the UAE state-owned oil company, and return as soon as possible."

He said, "The UAE has promised that if needed, they can provide us with 2 million barrels of crude oil from the jointly stored reserves," "Urgently importing more than 6 million barrels of crude oil from the UAE will not only help stabilize energy supply, but also help stabilize the international oil price which has been overreacting recently."

Source: JoongAng Daily

Original: toutiao.com/article/1859155104544768/

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