live Iran reopens Hormuz Strait, demands end to U.S. naval blockade- Saturday 18 April
Iran temporarily reopened the Strait of Hormuz on Friday (17 April) following a ceasefire agreement in Lebanon, ra...
South Korea will import 18 million barrels of Kazakh oil via routes bypassing the Strait of Hormuz, as it seeks to shield its energy supply from mounting instability in the Middle East.
South Korea has agreed to purchase 18 million barrels of crude oil from Kazakhstan using alternative transport routes, in a calculated effort to reduce exposure to geopolitical disruption in the Middle East.
The arrangement was confirmed by Kang Hoon-sik, chief of staff to the South Korean president, following high-level talks in Kazakhstan on 8 April. It forms part of a broader push by Seoul to diversify both suppliers and logistics chains.
The deal sits within a wider procurement framework under which South Korea has secured contracts for 273 million barrels of oil through to the end of 2026.
Alongside Kazakhstan, the agreements cover supplies from Oman, Saudi Arabia and Qatar. Within this structure, Kazakhstan’s share remains relatively modest at around 6%, suggesting that while its role is expanding, it is not yet central to South Korea’s import mix.
Saudi Arabia is set to continue as South Korea’s principal partner under long-term contracts, accounting for up to 200 million barrels of crude and at least 500,000 tonnes of naphtha.
Oman is expected to provide around 5 million barrels of oil and up to 1.6 million tonnes of naphtha, reinforcing the Gulf’s central role in Seoul’s energy portfolio.
Talks in Kazakhstan also resulted in an agreement on the supply of up to 2.1 million tonnes of naphtha and the establishment of a new direct channel for high-level bilateral engagement, indicating an intention to institutionalise cooperation beyond individual contracts.
For Kazakhstan, ranked 12th globally in oil production, the agreement aligns with its broader ambition to widen export routes and strengthen its position in Asian markets.
A defining feature of the arrangement is its logistical dimension. Both crude and naphtha will be transported via routes that avoid the Strait of Hormuz, a critical maritime chokepoint long exposed to disruption amid regional tensions.
South Korean officials expect this shift to alternative corridors to have a tangible stabilising effect on the domestic energy market, even if transit times - estimated at 50 to 60 days - remain broadly comparable to shipments from more distant suppliers such as the U.S.
The past 24 hours of the Russia-Ukraine war have seen a drastic escalation in both aerial bombardment and frontline losses.
Iran reopened the Strait of Hormuz to commercial shipping on Friday (17 April) for the first time since the U.S. and Israel killed Iran's ex-Supreme Leader in air strikes, triggering the Middle East conflict, at the end of February. A U.S. blockade on Iranian ports, however, remains in force.
Russia published addresses of manufacturers allegedly producing drones or components for Ukraine on Wednesday (15 April), warning European countries against plans to step up UAV supplies to Kyiv.
Netflix shares fell sharply on Friday after the streaming group issued a weaker-than-expected outlook and said chairman and co-founder Reed Hastings will step down from the board.
U.S. President Donald Trump says Israeli and Lebanese leaders have agreed to a 10-day ceasefire that includes Hezbollah, raising cautious hopes of a pause in hostilities after weeks of escalating tensions.
Syrian President Ahmed al-Sharaa has said his country could provide a “safe corridor” and “alternative route” for regional energy shipments, as supply disruptions continue to affect the wider Middle East.
An average of at least 47 women and girls were killed each day during the war in Gaza, according to new figures released by UN Women.
China is seeking to strengthen and upgrade its cooperation with Turkmenistan, focusing on what officials describe as “high-quality development” across a range of sectors.
Kazakhstan plans to boost trade with Afghanistan from $500 million to $3 billion, backed by infrastructure and transit projects designed to strengthen regional connectivity and improve access to global markets.
A low-profile diplomatic visit to Tbilisi may prove more consequential than it first appears, as representatives of France, Germany and Poland meet figures across Georgia’s political spectrum, signalling that Brussels is watching closely ahead of a key EU foreign ministers’ meeting.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment