Iran sanctions could hurt SA's oil imports

According to the Fin24 report which quotes Nelisiwe Magubane, director general of the Department of Energy, South Africa has not received a formal request from the United States or the European Union to reduce or halt Iranian crude imports. However, she warned that the Department is working on a "worst-case scenario", assuming that oil imports from that country would drop.

Magubane says that alternative sources of supply - and the cost implications for the refineries and South African motorists - are being investigated, according to the Fin24 report.

For more

• Fin24: SA prepares for 'worst case' on Iran