SEOUL, March 30 (Xinhua) -- South Korea's Ministry of Trade, Industry and Resource on Monday confirmed the import of 27,000 tons of Russian naphtha, marking the country's first such purchase since the Middle East conflict, Yonhap News Agency reported.
The ministry said the shipment arrived earlier in the day, but declined to disclose the destination port or whether the cargo was intended for a single company or multiple firms. The move comes as South Korea faces mounting pressure to secure alternative energy supplies amid disruptions in the Middle East.
According to Yonhap, South Korea relies on imports for about 45 percent of its domestic naphtha demand. In particular, as much as 77 percent of its imports come from the Middle East, making the country's industrial sector highly vulnerable to regional instability. Yonhap noted that any disruption, such as a closure of the Strait of Hormuz, could have a significant impact on the entire domestic industry.
The Ministry of Trade, Industry and Resource has moved to ban naphtha exports effective midnight last Friday as part of efforts to secure domestic supply amid concerns over potential import disruptions. ■
