The United Arab Emirates and Saudi Arabia have promised to fill any gap in South Korea's oil imports if Iran decides to cut its crude exports to the country, South Korean Minister of Strategy and Finance Bahk Jae-wan said.
"So far the UAE and Saudi Arabia have promised to provide more oil than now if things get worse. They have promised to fill the gap," he told reporters on the sidelines of a bilateral economic meeting with UAE officials in the capital Abu Dhabi.
He said no oil volumes had been specified so far.
Source: Reuters