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UAE Guarantees South Korea Top Priority for Crucial Crude Oil Supply

The United Arab Emirates has committed to supplying crude oil to South Korea as its number one priority, securing a total of 24 million barrels. The announcement was made by a top presidential aide following a trip to the UAE, against the backdrop of regional instability from the U.S.-Israel conflict with Iran. South Korea has also successfully evacuated most of its short-term citizens from the UAE. President Lee Jae Myung has sent letters of gratitude to the leaders of Japan, Qatar, and Saudi Arabia for their cooperation in evacuation efforts.

Key Points: UAE Pledges Top-Priority Crude Oil Supply to South Korea

  • UAE pledges top-priority oil supply
  • 24 million barrels of crude secured
  • Deal amid Middle East instability
  • Evacuation of South Korean nationals
  • Diplomatic outreach to regional leaders
2 min read

UAE pledges to supply crude oil to S. Korea with top priority

UAE secures South Korea's energy needs, pledging 24 million barrels of crude oil with top priority amid Middle East tensions. Details inside.

"The UAE clearly promised us that no country would receive crude oil ahead of South Korea - Kang Hoon-sik"

Seoul, March 18

The United Arab Emirates has pledged to supply crude oil to South Korea with top priority, President Lee Jae Myung's top aide said on Wednesday, saying that a total of 24 million barrels of crude oil have been secured from the Gulf nation.

Kang Hoon-sik, the presidential chief of staff, made the announcement in a briefing after returning from his trip to the UAE, amid concerns over global energy markets with the U.S.-Israeli attack on Iran and Tehran's retaliatory strikes entering their third week, reports Yonhap news agency.

"The UAE clearly promised us that no country would receive crude oil ahead of South Korea, and that we are the 'No. 1 priority' in terms of its oil supply," Kang said.

With the latest announcement, South Korea is set to receive a total of 24 million barrels of crude oil from the UAE, including an earlier agreement of 6 million barrels, according to Kang.

Around 3,000 of the 3,500 South Korean nationals staying short-term in the UAE have returned back home safely, he added.

Meanwhile, President Lee Jae Myung has sent letters to the leaders of Japan, Qatar and Saudi Arabia to express his gratitude for their cooperation in evacuating South Korean nationals from the Middle East, Cheong Wa Dae said Wednesday, with the U.S.-Israel war with Iran destabilising the region.

In a letter to Japanese Prime Minister Sanae Takaichi the previous day, Lee expressed his appreciation for Japan's assistance in evacuating 16 South Koreans and their family members of other nationalities to Tokyo on Japanese chartered flights last Wednesday and Friday.

Lee also praised the close bilateral coordination between the two countries as Japanese nationals were transported from Saudi Arabia to South Korea on a South Korean military aircraft, presidential spokesperson Kang Yu-jung said.

- IANS

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Reader Comments

P
Priya S
Good to see countries cooperating during a crisis. The evacuation efforts for citizens are commendable. Hope the situation de-escalates soon for the sake of regional stability. Oil prices affect everything here, from petrol to vegetables.
R
Rohit P
24 million barrels is a huge commitment. While South Korea secures its supply, I hope our government is having similar talks. We are one of the largest importers. Global tensions directly hit our pockets. Petrol at ₹110+ is already painful.
S
Sarah B
The cooperation between South Korea and Japan mentioned here is a positive sign. If historical rivals can work together in an emergency, it gives hope for diplomacy. The focus should be on protecting civilians and ensuring energy flow doesn't get weaponized.
V
Vikram M
"No. 1 priority" is a strong statement. It shows how geopolitics is shifting. The Gulf nations are playing a smart game, building strong bilateral ties with major economies. India needs to be at the forefront of such agreements. Our diaspora and trade relations are our strength.
K
Karthik V
With respect, while securing oil is crucial, the article glosses over the human cost of the conflict itself. The focus is on supply chains and evacuations, which is important, but let's not forget the people living in the region who don't have the option to leave. Peace should be the ultimate goal.

We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.

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