South Korea secures 270 million barrels of oil from suppliers unaffected by Hormuz blockade
South Korea has secured supplies of more than 270 million barrels of crude oil via routes unaffected by the US blockade of the Strait of Hormuz, a senior official said on Wednesday.
"I hereby report to the nation that visits to four countries have secured the import of 273 million barrels of crude oil by the end of this year," Kang Hoon-sik, chief of staff to the president, said.
The amount is sufficient for more than three months of South Korea's oil needs, Kang said after he returned from a trip to Kazakhstan, Oman, Saudi Arabia and Qatar.
Like many Asian economies, South Korea has faced mounting risks to its energy supplies since US-Israeli attacks on Iran in late February prompted Tehran to effectively close the strait.