President Ramaphosa has reportedly convinced Putin to steer clear of South Africa in August – which bodes well for markets.
After weeks of economic turmoil and uncertainty surrounding Russian President Vladimir Putin’s attendance of a BRICS summit in South Africa later this year, it now appears he will be giving the event a skip., President Cyril Ramaphosa had convinced Putin to stay home, citing sources close to the matter.
Putin was amicable to option one, the sources said, with Russian foreign minister Sergey Lavrov expected to come instead.The question of Putin’s attendance has caused havoc in South Africa to the extent that it directly impacts local markets. Markets were pushed into a panic as this narrative built momentum over the past few months and hit a peak after economists, analysts, and even the South African Reserve Bank flagged risks of the country facing secondary sanctions due to its ties to Russia.
The Ramaphosa-led African delegation to Russia and Ukraine has already tried to douse talk of South Africa being pro-Russia – the president has made it clear that the war must end and peaceful measures be used – but questions still hang in the air around whether or not South Africa gave military aid to Russia.Allegations by the US embassy that South Africa armed Russia in December 2022 when the Lady R docked in Simon’s Town under cover of darkness are still being investigated.
The Institute of International Finance recently flagged South Africa’s ties to Russia and potential sanctions as a key risk – a position that has been repeated time and time again in various reports looking at the country’s growth prospects.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Putin won’t attend Brics summit in South AfricaRamaphosa and Putin met privately in St Petersburg last weekend after talks with a delegation of African leaders attempting to mediate peace in the Russia-Ukraine conflict.
Read more »
What South Africa stands to lose if Agoa goes southExports of vehicles and citrus will be among the major victims, and thousands of jobs — actual and potential —will evaporate.
Read more »
Ghana’s debt target vital to end adjustment: IMF Africa director - The Africa Report.com“This threshold, aggressive as it is, is an important one, because higher levels of debt would mean even more fiscal adjustment. If you don't get the debt to that level, it means more of the burden of adjustment will follow.” Report by sheriftarek. Ghana
Read more »
South Africa: Major Court Victory for Trade UnionSimunye Workers Forum is a genuine trade union, not "a vehicle for enriching individuals" says judge
Read more »
South Africa: 'Drunk' Judge Nkola Motata to Be ImpeachedSupreme Court of Appeal rules that Judicial Services Commission was wrong
Read more »
South Africa: Parliament Is Incapable of Preventing Another State Capture Bid, Says Chief Justice ZondoAnalysis - Zondo proposed three solutions - electoral reform, an active citizenry and the establishment of a permanent anti-State Capture and anti-corruption commission that would operate in the same manner as the commission he chaired.
Read more »