How Trump's decision on Iran could impact South Africa
Trump’s announcement stands to reduce the SA-Iran trade target of $8bn‚ including oil imports
The Iranian ambassador to South Africa said on Tuesday that he hoped US President Donald Trump’s decision to withdraw from the Iran nuclear deal would not affect the relationship between South Africa and Iran, but history shows this is likely. Trump on Tuesday announced his decision to withdraw from the widely-praised deal‚ and also announced that the highest level of sanctions would be imposed on Iran. He added that any country which continued to support Iran also risked sanctions being imposed on them. These pronouncements and decisions could have significant implications on trade plans between South Africa and Iran. Previously‚ sanctions imposed on Iran by the US saw a big decline in trade between the countries. Oil sales were particularly hard hit. In 2004‚ according to StatsSA‚ South Africa bought 8-million tonnes of crude oil from Iran‚ and the country was the third-biggest exporter of oil to South Africa in 2011. However‚ due to the US-imposed sanctions‚ this dropped to zero ...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.