South Korea Deploys Ships to Saudi Arabia for Alternative Oil Routes Amid Iran Conflict

To create alternative oil supply routes, South Korea is sending five vessels under its flag to the Red Sea port of Yanbu in Saudi Arabia, avoiding the Strait of Hormuz, which Iran has largely closed off. Lawmaker Ahn Do-geol revealed this initiative on Monday following discussions with various agencies, including the energy ministry. Additionally, special envoys will be dispatched to Oman and Algeria to explore other oil procurement avenues. The closure of the Strait of Hormuz, a vital passage for global crude oil and gas, was a response to US-Israeli military actions that commenced on February 28. With oil prices rising amid the US-Israeli conflict with Iran, South Korea, dependent on Middle Eastern crude for about 70% of its imports, is implementing emergency measures, including a fuel price cap—the first since 1997.