Sarb sounds alarm on sanctions risk

Central bank says country could face financial isolation if US thinks it arms Russia

Elske Photography

The South African Reserve Bank (Sarb) said possible US-led sanctions could have “severe” effects on the country’s financial sector.

In its latest financial stability report, published May 29, the Sarb added the threat of sanctions to a daunting list of vulnerabilities, including the faltering power grid and the banks’ exposure to sovereign debt.

Reuben Brigety, the US ambassador to South Africa, claimed on May 11 that a Russian vessel, the Lady R, took on arms at Simon’s Town naval base in

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