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S. Africa to Benefit From Easing of Iran Oil Sanctions

  • Reuters

FILE - South African Minister of International Relations Maite Nkoana-Mashabane, March 1, 2014.

FILE - South African Minister of International Relations Maite Nkoana-Mashabane, March 1, 2014.

South Africa is looking forward to resuming trade with Iran, including oil imports, after a nuclear deal was struck between Tehran and six majors powers, the foreign minister said on Wednesday.

"Of course if sanctions are lifted that's a win-win situation and South Africa will also benefit from that," Maite Nkoana-Mashabane said in response to a question about resuming oil imports from Iran.

Iran was once the biggest oil supplier to South Africa, which is Africa's second-biggest crude consumer, importing around 380,000 barrels per day.

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