South Korea signs UAE oil deal to secure 24 million barrels bypassing Hormuz

South Korea has agreed to import an additional 18 million barrels of crude from the United Arab Emirates, on top of 6 million barrels already secured, bringing the total to 24 million barrels. Officials say this is enough to meet about eight days of the country’s oil consumption and mark Korea as a “No.1 Priority” in crude supply.

The new volume will be delivered through UAE ports that bypass the Strait of Hormuz, a critical chokepoint for global oil shipments. Under the plan, three UAE-flagged vessels will carry 6 million barrels, while six Korean-flagged vessels will handle 12 million barrels, with the previously secured 6 million barrels added to create the 24-million-barrel total.

The arrangement was announced by Kang Hoon-sik, the president’s special envoy for strategic economic cooperation, who had traveled to the UAE. He described Korea as having the highest priority for crude supply, and said the two sides were pursuing a long-term path to ensure stable supply.

To reinforce resilience, Seoul and Abu Dhabi will also sign a memorandum of understanding on oil supply-chain cooperation aimed at steadier, long-term access to crude.

Officials said last year’s state visit by President Lee Jae-myung, which included talks on investment and cooperation, helped set the stage for this agreement. Kang carried the president’s letter of solidarity, and UAE officials reportedly thanked Seoul for dispatching a special envoy during wartime.

Kang’s return from the UAE was made under tight conditions because of an Iranian drone attack; he returned to Korea via a third country in a four-day trip, arriving in the early hours of the morning.

Separately, the envoy said there has been no formal request from the United States to deploy warships to defend Hormuz, noting that no such official request has been processed.

Why this matters for the United States: Korea’s move underscores how allied energy security hinges on stable access to Middle East crude, even as shipping routes shift to alternative ports to mitigate risks around Hormuz. The arrangement highlights UAE's role as a major Gulf supplier and Korea’s effort to diversify and stabilize its energy imports, a concern for global markets, supply chains, and geopolitical security in the Indo-Pacific and beyond.