South Korea will import more than 6 million barrels of crude oil from the United Arab Emirates in an emergency move to stabilize fuel prices amid the escalating Middle East conflict. The presidential office announced the decision on Friday, stating it aims to ease domestic energy market pressures. Efforts to evacuate South Korean nationals from the region are also underway.
On March 6, 2026, South Korea's presidential office announced it will import more than 6 million barrels of crude oil from the United Arab Emirates amid the escalating Middle East conflict triggered by U.S.-Israeli attacks on Iran and Tehran's retaliatory strikes. Presidential chief of staff Kang Hoon-sik stated during a briefing, "At the instructions of President Lee Jae Myung, we have made consultations over measures to introduce crude oil and as a result, an emergency introduction of more than 6 million barrels has been confirmed." The move is expected to stabilize oil prices and equates to more than twice South Korea's daily supply.
Kang highlighted that 70 percent of crude oil supplied to South Korea passes through the Strait of Hormuz, which has effectively been shut down due to the conflict. Two South Korean oil tankers will head to a UAE port that avoids the strait to receive 4 million barrels, while the UAE pledged 2 million barrels from a joint reserve stored in South Korea. As the world's fourth-largest crude importer, South Korea relies almost entirely on overseas supplies, primarily from Middle Eastern producers like Saudi Arabia, the UAE, and Kuwait, due to a lack of domestic petroleum resources.
The surge in global crude prices has led to steady increases in local gasoline and diesel prices, burdening households and businesses. President Lee warned earlier this week of strict action against illegal price manipulation, directing regulators to closely monitor the market and penalize companies for price gouging. Officials described the emergency imports as part of broader efforts to stabilize the domestic energy market and ensure fuel supplies if the Middle East conflict further disrupts global oil flows.
Concurrently, measures for the safe return of South Korean nationals are progressing. A passenger flight from Dubai is scheduled to arrive at Incheon International Airport at 7:30 p.m. Friday, following talks with the UAE. Commercial flights from Abu Dhabi are set to resume Saturday, with a chartered Korean Air flight also to be dispatched after discussions with Khaldoon Khalifa Al Mubarak, chairman of Abu Dhabi's Executive Affairs Authority. Currently, 18,000 South Koreans are in 14 Middle Eastern nations, including 4,900 short-term travelers, with 3,500 of them in the UAE and Qatar awaiting return. The presidential office will continue consultations with the UAE to bring all citizens home as soon as possible.
