CLAVE 1 / 4South Korea will cover 100% of additional freight costs for crude imports from the US, Canada, and Africa.
CLAVE 2 / 4US imports surged 14.2% year-on-year during the earlier subsidy programme, reaching 95.9 million barrels.
CLAVE 3 / 4African crude purchases jumped 156.7% to nearly 26 million barrels under the scheme.
CLAVE 4 / 4President Lee Jae Myung: ‘We’ve cut Middle Eastern dependence from 70% to 50%.’
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