European Union leaders announced a 4.7 billion euro ($5.10 billion) investment package during a visit to South Africa on Thursday, at a time when both are on worse terms with the United States than they have been for decades.
The European leaders said the visit was an opportunity to strengthen close ties with Africa's most advanced economy, coinciding with the latter's presidency of the Group of 20 nations, which U.S. officials have so far largely snubbed.
U.S. President Donald Trump has stunned European leaders with his pivot towards Russia in the Ukraine war, upending U.S. policy since Moscow's full-scale invasion in 2022. His staunchly pro-Israel stance has brought him into conflict with South Africa over its genocide case against Israel at the World Court.
The U.S. administration has also interposed itself in Europe and South Africa's domestic politics, criticising Europe for attempting to isolate the far right and ignoring voters' concerns about immigrants, while cutting aid to South Africa over its efforts to address historic racial land injustice.
The EU trip was an opportunity to ameliorate ties, which soured when South Africa refused to outright condemn Russia's Vladimir Putin for invading Ukraine.
European Commission President Ursula von der Leyen said South Africa had a vital role on the world stage as a leading voice of the Global South.
"In a moment of increased confrontation and competition, we must strengthen our partnership further," she said.
She said at talks with President Cyril Ramaphosa in Cape Town that Europe wanted to help the South African economy grow.
"Europe understands your potential," she said, sitting alongside European Council President Antonio Costa. She cited clean hydrogen, where South Africa could make use of abundant raw materials and vast renewable energy potential.
Ramaphosa said South Africa wanted Europe's support to transition to a low carbon economy and grow industry, and that it valued European support for multilateralism at a time of rising nationalism.
"African relations with the European Union should be built on a mutually beneficial partnership," he said.
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Oil prices fell after the U.S. expanded economic sanctions on Iran, as Tehran vowed to retaliate and warned it had tools to respond, raising concerns over potential disruption to regional oil supplies.
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Only four commodity vessels crossed the Strait of Hormuz on Sunday, following 13 transits a day earlier, as disruptions continue to restrict traffic through the key energy chokepoint.
Kyiv has recently received a small number of U.S.-made Patriot interceptors capable of downing Russian ballistic missiles, Ukrainian President Volodymyr Zelenskyy has said. It comes as Britain and France pledged stronger military support for Ukraine.
Kyiv has recently received a small number of U.S.-made Patriot interceptors capable of downing Russian ballistic missiles, Ukrainian President Volodymyr Zelenskyy has said. It comes as Britain and France pledged stronger military support for Ukraine.
Canada has announced nearly $20 billion in retaliatory tariffs on U.S. goods and billions in support for workers and businesses, escalating its trade dispute with Washington after President Donald Trump's latest duties took effect.
Pakistani exporters are facing soaring shipping costs to the U.S., with freight rates more than tripling on some routes as the Iran-U.S. conflict drives up war-risk insurance and fuel costs.
The trial of a Libyan man accused of building the bomb that destroyed Pan Am Flight 103 over the Scottish town of Lockerbie in 1988, killing 270 people, has been postponed by a U.S. federal judge.
France and Saudi Arabia have agreed on plans for a $7 billion manga-themed amusement complex near Paris, inspired by the hugely popular Japanese franchise Dragon Ball Z.
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