Mboweni: Tensions between US, Iran will have a huge impact on South Africa

South Africa’s Finance Minister Tito Mboweni has warned that tensions between the US and Iran are a threat to South Africa as they are likely to affect the global economy.

This after US President Donald Trump ordered an airstrike that killed Iranian military commander Qassem Soleimani in Iraq last week.

The White House accused Soleimani of being the mastermind in the attacks on Americans during the past two decade.

Signs of global market jitters are evident after the Japanese yen and Swiss franc pulled back from recent highs.

This as investors become less anxious about the chances of an all-out conflict between the US and Iran.

In a series of tweets, Mboweni has joined a number of leaders and officials who have condemned actions by the US.

Mboweni says the US is not adequately dealing with the impending US-Iran conflict.

Mboweni says escalating tensions between the US and Iran will have an adverse impact on the global economy, including the South African economy.

He says the impending impasse will affect oil production and ultimately the price of oil.

Mboweni says preventative diplomacy is key in the current context.