South Korea secures 270 million barrels of oil from suppliers unaffected by Hormuz blockade

Seoul secures three-month oil supply from alternative routes, bypassing the US-led blockade of the critical Strait of Hormuz. | Contesto: cronaca

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• South Korea secures 270 million barrels of oil from suppliers unaffected by Hormuz blockade

Contesto

South Korea has secured a critical supply of over 270 million barrels of crude oil through routes that circumvent the US blockade of the Strait of Hormuz, a senior presidential official announced on Wednesday. Kang Hoon-sik, chief of staff to the president, stated that diplomatic visits to four nations had guaranteed the import of 273 million barrels by year's end, an amount he said would cover the nation's oil consumption for more than three months. The announcement marks a significant step in mitigating a severe energy security crisis triggered by the closure of the world's most important oil transit chokepoint. The strategic stockpile was secured during a high-stakes diplomatic mission to Kazakhstan, Oman, Saudi Arabia, and Qatar. These suppliers possess export infrastructure, such as pipelines and ports on the Arabian Sea and the Caspian Sea, that do not rely on passage through the Strait of Hormuz. For a manufacturing and export powerhouse like South Korea, which is almost entirely dependent on imported oil, this diversification of supply routes is not merely a logistical achievement but a vital national security imperative. The success of Kang's tour underscores the intense, behind-the-scenes negotiations Seoul has undertaken since the crisis began. The disruption stems from a dramatic escalation in late February, when US-Israeli military actions against Iran prompted Tehran to effectively seal the narrow strait. Approximately one-fifth of the world's oil passes through this 21-mile-wide channel, making it the arterial route for crude shipments from the Persian Gulf to major Asian economies. The blockade has sent shockwaves through global energy markets and placed immense strain on countries like South Korea, Japan, and China, which rely heavily on Middle Eastern crude. The move has created a stark geopolitical rift, pitting US strategic interests against the urgent energy needs of its allies. Kang's public report to the nation, delivered with a tone of reassurance, highlights the acute anxiety within the South Korean government and business community. A three-month supply buffer provides crucial breathing room, but it does not resolve the underlying...

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Categoria: cronaca