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How the global energy shock is reshaping South Africa

The US-Israeli strike on Iran set off the biggest energy shock since the Russian/Ukraine war. South Africa faces the same inflation risks as its peers, but also some upside if policy and execution can convert it into real gains. By PwC Economics and Sustainability Strategy Team The US-Israeli military action against Iran, initiated on 28

21 March 2026 · Alexis Knipe · 12 min read