Minutes after the US ambassador accused South Africa of giving weapons and ammunition to Russia, the South African rand plunged.
According to local media, the currency’s value against the dollar decreased by more than 30 cents. Since the record low set in 2020, this was the rand’s weakest performance.
The weapons and ammunition, according to US Ambassador to South Africa Reuben Brigety, were loaded onto a Russian ship that berthed at the Simon’s Town naval base in Cape Town in December of last year.
Fears were raised by the report that South Africa would face economic sanctions from the US.
An independent investigation into the claims would be conducted, according to Cyril Ramaphosa’s office, and it would be presided over by a retired judge.
