South Korea will import more than six million barrels of crude oil from the United Arab Emirates as a contingency measure following the closure of the Strait of Hormuz, through which about 70 percent of its crude oil imports pass.
Presidential Chief of Staff Kang Hoon-sik said on Friday that two Korean oil tankers will be loaded with a combined four million barrels supplied by the Abu Dhabi National Oil Company.
The shipment will be loaded at a UAE port that does not require passage through the Strait of Hormuz.
Kang added that the UAE has also pledged to provide another two million barrels from joint strategic reserves stored in South Korea.
Six million barrels amount to more than twice the country's daily crude oil consumption.
Although South Korea holds petroleum stockpiles equivalent to almost seven months of supply, Kang said the move is a precaution in case tensions in the Middle East persist.

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