‘Cargo destined for SA passing through Strait of Hormuz without interruption’ – Mantashe

South Africa’s Mineral and Petroleum Resources Minister Gwede Mantashe has urged South Africans not to panic about a possible fuel shortage, saying vessels carrying cargo and supplies destined for South Africa are passing through the Strait of Hormuz without interruption or threats of attacks from Iran. Mantashe was responding to questions in the National Assembly on Wednesday as South Africans remained deeply concerned about fuel shortages and a possible massive spike in fuel prices, which is expected to kick in next week. The United States and Israel’s war in Iran has ignited global panic, with the conflict expected to severely impact fuel prices and supply.

During the session in the National Assembly, ANC MP Fasiha Hassan asked Mantashe whether South Africa’s petroleum supply security arrangements are adequate to withstand sustained external supply disruptions resulting from the war. “You will see that the question reflects panic. And as a mineworker, one thing I learnt early in life is that panic kills.

Despite the heightened geopolitical risk, including the disruption to the Middle East shipping routes, the Republic’s current petroleum supply security arrangement remains robust.” Mantashe said Iran’s stated position should allay fears of immediate supply disruption, especially to South Africa. “I am sure if you monitor the news, you will appreciate that the Strait of Hormuz allows cargo that goes to South Africa without interruption. So that means we have a chance to maintain a stable supply for a long period of time.

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There should be no panic in South Africa; panic kills.” Iran’s requirementsMantashe added that Iran gave countries two requirements to continue operating in the strait, saying Pretoria was engaging Brics partners about the current conflict. “In the Strait of Hormuz, there is one requirement they want, you can go through if you are not a partner or in alliance with the US and Israel. If you are not in alliance with those, you are allowed through.

The second requirement is that you will pay Iran in rial, not dollars. “All cargo coming to South Africa is allowed through. There is no fear of this. Unless you want to identify yourself with [the US] and Israel.” With the price of petrol expected to be announced next week, Mantashe said there was little South Africa could do about oil price shocks.

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