Post #5863

🇰🇷Seoul Seeks Envoys to Secure Oil Supplies South Korea's ruling Democratic Party and government officials agreed to dispatch special envoys to Saudi Arabia, Oman, and Algeria to secure crude oil supplies after the Strait of Hormuz was effectively closed amid the US-Israeli war with Iran. Representative Ahn Do-geol announced the decision following a consultative meeting at the National Assembly. Authorities are also pushing to send five South Korean-flagged vessels to the Saudi Arabian port city of Yanbu on the Red Sea coast. Officials discussed releasing strategic oil reserves to private refiners to address supply shortages, with swaps to be conducted once overseas shipments arrive. The government is conducting daily supply chain checks across 50 major industries due to disruptions in naphtha supply, a feedstock used in petrochemical production. The reviews followed US and Israeli airstrikes on Iran that intensified domestic supply disruptions. #SouthKorea @asianomics