Meanwhile, South Africa’s President Cyril Ramaphosa told local media on the sidelines of the Africa Energy Indaba conference in Cape Town that he is willing to play a mediating role in the Middle East conflict if asked.
"If the opportunity were to open, we would talk and say: there must be a ceasefire. Dialogue is always the best way of ending conflict and then ending the war. And we want this war to come to an end immediately," he said.
Ramaphosa also said that the escalating conflict in the Middle East was already putting strain on the African continent's supply chains and causing higher energy prices.
"As we have seen with Russia-Ukraine and during the COVID-19 pandemic, shifting geopolitical sands underscore the vulnerabilities of import-dependent economies across Africa," Ramaphosa added.
Oil and gas prices have surged following the strikes on Iran and retaliation by Tehran that forced shutdowns of oil and gas facilities across the region and disrupted shipping in the crucial Strait of Hormuz.
The interruption immediately pushed up the prices of energy supplies on financial markets in Europe. Among European countries, Britain, Italy, Belgium and Poland are the most reliant on LNG imports that pass via the Strait of Hormuz, according to data from the U.S. Energy Information Administration.
Click here for a story on how Britain's domestic energy price cap in July is forecast to rise by about 10% in response to a surge in wholesale prices tied to the conflict in the Middle East.
Want to keep up with the daily developments of the conflict? Click here to subscribe to the Reuters Iran Briefing newsletter keeps you informed with the latest developments and analysis of the Iran war.
