LG Chem, South Korea's leading chemical company, has secured 27,000 tons of naphtha from Russia amid a potential supply shortage caused by the war in the Middle East, the industry ministry and business circles said Monday.
The imported volume falls far short of the average 4 million tons used in the country every month, but marks the opening of an alternative supply route through cooperation between the private sector and the government in the midst of the war.
Local reporting also says Seoul consulted with US authorities and explored payment in non-dollar currencies to reduce sanctions exposure.
22
lassomontanaMar 30, 2026
+38
So let me get this straight : the US-Israel war on Iran started February 28, South Korea gets 77% of its naphtha from the Middle East, and the fix is… 27,000 tons of Russian oil through a sanctions waiver that expires April 11? That's like patching a burst pipe with a Post-it note while the basement floods. Seoul's energy crisis keeping the president up at night makes a lot more sense now
38
BortcornsFourJezusMar 31, 2026
+9
I read that ROK needs 4 million tons a month. This is basically nothing
9
Necrid1998Mar 30, 2026
+15
27.000 tonnes sounds like a lot but is really only one handysize to MR size tanker
15
BortcornsFourJezusMar 31, 2026
+4
Exactly. Korea uses 4mn tons each month
4
c0xb0xMar 30, 2026
+18
Funding Russia's wars of aggression against Europe.
18
Gold_Ad_5897Mar 31, 2026
+17
If 27k ton of Naphtha is feeding Russia's war of aggression against Europe, then what are all the oil, LNGs Europe is buying from Russia called?
17
[deleted]Mar 30, 2026
+9
[deleted]
9
External-Plastic-154Mar 31, 2026
+3
It’s not necessarily a bad thing for South Korea to grow closer to Russia. It would be worse if Russia became subordinate to China.
3
BortcornsFourJezusMar 31, 2026
+1
That's why the US keeps huge bases there.
It's all changing. Very slowly
10 Comments