As tensions in the Strait of Hormuz continue, the South Korean government announced on the 19th that it is considering the possibility of importing Russian crude oil and naphtha in collaboration with oil companies. This exploration comes after the United States temporarily permitted the import of Russian crude oil, which had been under sanctions since the invasion of Ukraine due to the spike in oil prices. South Korea has suspended imports of Russian crude oil since 2022, but ongoing instability in the Middle East has prompted the government to reconsider this stance. Currently, about 70% of South Korea's imported crude oil passes through the Strait of Hormuz.

Moreover, on the 18th, the South Korean presidential office revealed an agreement to urgently import a total of 24 million barrels of crude oil from the United Arab Emirates (UAE). Kang Hoon-sik, the chief secretary to the president, confirmed that during the visit to the UAE, the emergency procurement of 18 million barrels was finalized. This amount combines with an already planned 6 million barrels, bringing the total emergency import from the UAE to 24 million barrels, addressing the pressing need for secure oil supplies amidst rising geopolitical tensions.