South Korea reports that the United Arab Emirates has urgently supplied oil to Korea; 18 million barrels of oil are already en route.

South Korea’s Ministry of Trade, Industry and Energy said on Wednesday that, under a recent agreement reached between the two countries, emergency crude oil cargoes from the United Arab Emirates are being shipped to South Korea, and South Korea has received the first batch of crude oil provided by Gulf countries.

Last month, after the U.S.-Iran conflict effectively led to the Strait of Hormuz being blocked, the UAE agreed to prioritize supplying South Korea with 24 million barrels of crude oil.

According to South Korea’s Ministry of Trade, Industry and Energy, the UAE pledged to supply 6 million barrels first, and then deliver the remaining 18 million barrels afterward.

Of the 6 million barrels, 2 million were delivered to South Korea on Monday, and another 2 million are planned to be delivered in the early to middle part of April. The UAE also transferred 2 million barrels of crude oil stored in South Korea as part of the International Joint Reserve to South Korea’s domestic refineries.

The remaining 18 million barrels of crude oil are also en route, including 2 million barrels purchased by South Korean companies, which are expected to arrive in mid-April.

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Editor: Chen Yu-jia