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Russia Tells S. Africa To Abandon Non-Aligned Stance

SOUTH AFRICA
  • Russia's ambassador to South Africa Ilya Igorevich Rogachev said that the country must pick a side in the global rift surrounding the Russo-Ukrainian war, as the geopolitical environment is not conducive to a non-aligned stance. The diplomat warned that neutral countries are hit with secondary sanctions, with the West adopting a "with us or against us" position. The SARB and business representatives have recently been warning of a risk of secondary sanctions.
  • Meanwhile, the Department of International Relations and Cooperation (DIRCO) said that there was "no threat of sanctions against South Africa" over the docking of the Russian cargo ship Lady R in Simon's Town last year. The Department's spokesman noted that a special investigation produced no evidence that weapons could have been loaded onto the vessel.
  • The SARB will discuss household spending and other macroeconomic data in its Quarterly Bulletin, due at 09:00BST/10:00CEST.
  • Today's data docket features Q2 BER Consumer Confidence (09:00BST/10:00CEST) and May PPI (10:30BST/11:30CEST).

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