South Korea raises energy alert amid Middle East oil disruptions

ISTANBUL

South Korea on Wednesday raised its national energy security alert to the second-highest level as the country “is beginning to see physical disruptions in oil supplies,” Yonhap News reported.

The decision, effective at midnight, comes a month into the ongoing war in the Middle East, saıd the Ministry of Trade, Industry and Energy.

“The decision was made as disruptions in domestic oil supplies are materializing and as global oil prices are continuing to show excessive volatility,” the ministry said.

Imports of crude oil through the Strait of Hormuz have been suspended for more than 10 days since the waterway’s effective closure on March 1.

The last tanker from the strait arrived in South Korea on March 20. In 2024, South Korea sourced about 55% of its energy products from the Middle East, worth roughly $144 billion.

Tensions in the Middle East have escalated since Israel and the US launched a joint offensive against Iran on Feb. 28, resulting in more than 1,340 deaths, including then-Supreme Leader Ayatollah Ali Khamenei.

Iran has retaliated with drone and missile strikes targeting Israel, Jordan, Iraq, and Gulf countries hosting US military assets, causing casualties and infrastructure damage, while disrupting global markets and aviation.

At least 13 US servicemen have been killed during the ongoing armed conflict, with dozens of others wounded.

Iran has maintained an effective control of the Strait of Hormuz, a critical waterway for energy supplies to Asian nations, allowing vessels only from what Tehran describes as "friendly countries."

South Korean Foreign Minister Cho Hyun last week urged Tehran to ensure safe navigation through the strait. Iranian ambassador in Seoul, Saeed Koozechi, said South Korean vessels can transit the Strait of Hormuz, but only after coordination with Iranian authorities.