A South Korean oil tanker has transited the Red Sea for the first time since the effective closure of the Strait of Hormuz, Seoul’s oceans ministry said on Friday. Import-dependent South Korea has taken steps to mitigate the risks to its energy supplies since US-Israeli attacks on Iran in late February prompted Tehran to shut off access to the strait. Seoul has sought new sources of oil and said this month that it would send five Korean-flagged ships to the Saudi Arabian Red Sea port of Yanbu to establish alternative routes.

Also on AF: War in Iran is Also Killing Trade With Importers in the Middle East The ministry announced on Friday the “first case of crude oil being transported into the country via the Red Sea, a detour, since the blockade of the Strait of Hormuz”. President Lee Jae Myung called it “a valuable achievement made by the relevant ministries moving as one team”. “I would like to express my gratitude to everyone who worked hard day and night despite difficult conditions, especially the sailors,” he said on X.

“The government is concentrating all its capabilities to overcome the crisis brought about by the Middle East war,” he said. Kang Hoon-sik, chief of staff to the president, said on Wednesday that South Korea had secured supplies of more than 270 million barrels of crude oil via routes unaffected by Hormuz crisis through the end of the year. The figure is equivalent to more than three months of South Korea’s oil needs based on last year’s figures, Kang said.

The official recently returned from a trip to Kazakhstan, Oman, Saudi Arabia and Qatar in a bid to secure alternative fuel sources. Ensuring Hormuz stability The news of the Korean ship’s passage through the Red Sea came on the heels of a declaration by Iranian officials that the strait was now “completely open” to commercial ships. US President Donald Trump said that Iran has agreed to “never” close the critical waterway again.

Concern remains, however, on how long the opening would last. The leaders of France and the UK on Friday welcomed Iran’s announcement but said freedom of navigation of the strait must be permanently restored. That statement followed a virtual summit the two leaders hosted earlier in the day to address the issue.

The summit saw participation of around 40 countries including key Asian countries affected by the closure of Hormuz, including Korea, Japan and India. “The Strait of Hormuz is a strategic chokepoint for global logistics and an international public good. It is essential that stability in the Strait of Hormuz is restored as soon as possible and that the freedom and safety of navigation for vessels of all nations is ensured,” Japanese Prime Minister Takaichi Sanae said in a statement prepared for the summit.

Korea’s Lee shared similar concerns following the summit, noting that Korea relies on the Strait of Hormuz for approximately 70% of its crude oil imports. “We plan to actively explore ways to enhance diplomatic and military cooperation in preparation for any changes in the situation ahead,” Lee said in a statement posted on X. AFP, with additional editing and inputs from Vishakha Saxena Also read: Japan Vows $10bn to Help Southeast Asia Procure Oil Amid Iran War Electric Vehicle Sales Jump in Asia as Iran War Pumps Up Fuel Cost China Slams Ports Blockade, as Calls Rise For More US-Iran Talks Energy Crisis From Iran War to Fuel Renewables Boom, IEA Says Asia ‘Suffering The Most’ From Energy Crisis Due to Iran War Another Two India-Bound LPG Tankers Cross Strait of Hormuz India’s Poor Turn to Wood, Coal as Iran War Spikes Gas Prices War in Iran Could Hit Some of Asia’s Biggest Economies Hard India Races to Secure Supplies as New Attacks Risk ‘Energy War’ Asia Ramps Coal Power Use as Iran War Causes Gas Prices to Soar Indian Refiners Snap Up Russian Oil as Iran War Trumps Sanctions More Ship Strikes as Iran Threatens to ‘Destroy World Economy’ Get Ready for $200 a Barrel, Iran Says, as Three More Vessels Hit Oil Crisis: US Allowing Iranian Tankers Through Strait of Hormuz Asian Leaders Rush to Limit War Impacts as Oil Tops $100 a Barrel Iran Mocks Trump Backdown on Strikes on Its Oil, Power Plants