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UAE commits to South Korea

By Reuters

The United Arab Emirates said it would prioritise crude supplies to South Korea, which is seeking an exemption from toughened US sanctions on Iran's crude exports, South Korea's Yonhap news agency reported on Tuesday.

"The UAE, considering its relationship with South Korea, will prioritise crude oil supplies to South Korea if more oil is needed," Yonhap quoted UAE Crown Prince Sheikh Mohammed bin Zayed al-Nahyan as telling South Korea's Prime Minister Kim Hwang-sik.

The Yonhap report quoted South Korean officials who were at the meeting as saying the UAE's offer was made in response to a request by Kim.

"It seems there are unstable factors in crude oil supply and we need the UAE's help," one official was quoted as saying.