International
South Korea Successfully Navigates First Oil Tanker Through Red Sea Amid Strait of Hormuz Blockade
A South Korean oil tanker has safely transited the Red Sea, marking the country’s first successful crude oil shipment via this alternative route since the effective closure of the Strait of Hormuz earlier this year.
The development comes as South Korea intensifies efforts to secure its energy supplies amid ongoing geopolitical tensions and the blockade of one of the world’s most vital oil chokepoints, triggered by the prolonged conflict involving Iran.
According to the Ministry of Oceans and Fisheries, the tanker, which loaded crude oil at Yanbu port in Saudi Arabia on the Red Sea, has now exited the waterway. President Lee Jae-myung welcomed the news, describing it as a positive step for the nation’s energy security.
“It is good news that our vessel is transporting crude oil via the Red Sea for the first time since the blockade of the Strait of Hormuz,” President Lee posted on social media, commending officials and the crew for their efforts.
The move forms part of a broader strategy to diversify import routes and reduce reliance on the blocked Strait of Hormuz.
South Korea has already secured more than 270 million barrels (approximately 273 million barrels according to some reports) of crude oil and naphtha from the Middle East and Kazakhstan through alternative channels unaffected by the crisis.
These supplies are expected to sustain the country’s needs for several months.
Officials noted that the government plans to deploy additional Korean-flagged vessels to the Red Sea port of Yanbu in phases to further stabilise imports, despite risks such as potential threats from Houthi rebels in the region.
The successful transit highlights growing global shifts in energy logistics, as import-dependent nations adapt to disruptions in traditional shipping routes caused by the ongoing Middle East conflict.
South Korea, which relies heavily on Middle Eastern oil, continues to explore bypass options, including discussions on alternative pipelines and storage facilities, to ensure uninterrupted energy flows and protect its economy from volatility.
International
South Korea giving 36 million people cash to ease rising fuel prices
A welfare ministry official, however, noted that eligibility will primarily be based on national health insurance payments.
• Image of South Korea flag
South Korea is set to roll out a second batch of cash assistance for the bottom 70 percent of income earners in an effort to ease financial strain caused by rising fuel prices amid the war in the Middle East.
According to officials on Monday, the National Assembly approved a 26.2 trillion-won (17.8 billion dollars) supplementary budget bill to address the economic fallout from the Middle East conflict, including the introduction of the cash assistance plan.
Under the first programme launched in April, the government handed out up to 600,000 won to recipients of basic livelihood security and other vulnerable groups.
The government will begin accepting applications next Monday for the second round of the assistance programme.
Eligible individuals living in the broader Seoul area will receive 100,000 won, while those in areas with declining populations may receive up to 250,000 won each.
Assistance eligibility will be determined by a household’s national health insurance payment in March this year.
For single-person households, those who paid 130,000 won or less will be eligible.In terms of annual income, a single-person household earning 43.4 million won or less per year is expected to qualify for the assistance programme.
A welfare ministry official, however, noted that eligibility will primarily be based on national health insurance payments.
International
FG hails Elias’ election to UN International Law Commission
Elias emerged successful in a competitive election conducted to fill the vacancy created by the resignation of Kenya’s representative, Professor Phoebe Okowa. Candidates from Ghana and Botswana also contested the seat.
The Federal Government has hailed the election of Nigerian international legal expert, Taoheed Elias, into the United Nations International Law Commission during the commission’s 77th session held in Geneva.
Elias emerged successful in a competitive election conducted to fill the vacancy created by the resignation of Kenya’s representative, Professor Phoebe Okowa. Candidates from Ghana and Botswana also contested the seat.
In a statement issued on Thursday by the spokesperson for the Ministry of Foreign Affairs, Kimiebi Ebienfa, the government described the election as a recognition of Nigeria’s contributions to the development of international law and multilateral diplomacy.
The government said Elias brings decades of experience in international legal affairs to the commission, having previously served as Registrar of the International Residual Mechanism for Criminal Tribunals with the rank of United Nations Assistant Secretary-General.
International
CNN’s founder, Ted Turner, dies at 87
CNN’s founder Ted Turner / AFP
Ted Turner, the flamboyant US entrepreneur who transformed television news with the creation of CNN in 1980, has died at the age of 87, the network said Wednesday.
The mustached southerner, yachting enthusiast and philanthropist, whose empire also included sports clubs, had been suffering from the degenerative disease Lewy Body Dementia.
Cable News Network upended established broadcasting with its dedication to around-the-clock breaking news and shot to global recognition with its coverage of the Gulf War in 1990-91.
The 24-hour network was the first in the United States to run non-stop news and quickly built a worldwide footprint.
Correspondents brought live coverage from major events ranging from the collapse of the Soviet Union to the Chinese crackdown on the Tiananmen Square protests.
CNN’s decision to keep reporters in Baghdad amid US bombing on the Iraqi capital cemented the network’s reputation as an indispensable source of breaking news.
-
Politics17 hours agoAtiku Holds the Key to Obi’s Presidential Ambition, By Emeka Monye
-
News14 hours agoINEC needs1.4m corps members for 2027 election manpower
-
News14 hours agoLagos to launch own driver’s license
-
Sports3 days agoFC Barcelona to establish football academy in Bayelsa
-
News14 hours ago”I Warned Them The Coup Would Fail” — Islamic Cleric’s Video Confession Played in Court
-
Entertainment2 days agoDress made from 500 loaves stuns African film awards
-
Sports1 day agoBarcelona crowned La Liga champions
-
Business22 hours agoUnctad says GDP is not enough to tell if people are better off
