South Korea confirms first Russian naphtha import since Middle East conflict

Seoul (ANTARA) - South Korea’s Ministry of Trade, Industry, and Energy has confirmed the import of 27,000 tonnes of naphtha from Russia, marking the country’s first purchase since the Middle East conflict, as reported by Yonhap News Agency.

The ministry stated that the shipment arrived earlier that day but declined to disclose the destination port or whether the cargo was destined for a single company or multiple firms.

This step is being taken as South Korea faces mounting pressure to secure alternative energy supplies amid disruptions in the Middle East.

According to Yonhap, South Korea relies on imports to meet around 45% of its domestic naphtha needs. Specifically, 77% of its imports come from the Middle East, making the country’s industrial sector highly vulnerable to regional instability.

Yonhap noted that any disruptions, such as the closure of the Strait of Hormuz, could significantly impact the entire domestic industry.

South Korea’s Ministry of Trade, Industry, and Energy has taken steps to ban naphtha exports, effective from midnight local time on Friday (27/3), as part of efforts to secure domestic supplies amid concerns over potential import disruptions.