While you were asleep: No mediation between South Africa and Ukraine -

More than ten days ago, President Cyril Ramaphosa sent a request to his Ukrainian counterpart, Volodymyr Zelensky, to speak about “SA’s possible mediation efforts”. To date, no response has been received.

“The apparent snub by the Ukrainian leader seems to raise fresh questions about SA’s rationale for its controversial abstention on the March 3 UN General Assembly resolution condemning Russia’s invasion of Ukraine,” writes Carien du Plessis for Business Day. “SA said it wanted to stay neutral because it had been asked by a third country to assist in mediating the conflict.”

Du Plessis believes Zelensky has not responded to Ramaphosa’s request because he is unhappy with the neutral stance taken by the South African government. “Zelensky is unhappy with SA’s stance at the UN, where it has twice refused to support resolutions condemning Russia.” To further her argument, Ramaphosa also abstained from voting in the “Humanitarian consequences of the aggression against Ukraine” last Thursday.

In market news, the rand is now trading at R14.62, down 0.4 percent from its previous close. According to Treasury One, today’s trading range is projected to be R14.55/R14.70, with traders keeping an eye on the discussions between Russian and Ukrainian officials in Turkey.

Here’s a roundup of the world’s top and most interesting headlines:

SA Business

amaBhungane: SA is pursuing a major gas deal – and Russia wants in – News24

Unemployment expected to have reached 35.1% – Business Day (for subscribers)

Ramaphosa and his cabinet face no-confidence votes – Business Day (for subscribers)

Global Business

Gold Down as Ukraine and Russia Set to Resume Peace Talks, Dollar Strenghens – Investing.Com

Tesla to Suspend Production at Shanghai Plant on Virus Curbs – Daily Maverick

Oscars 2022: Will Smith wins his first Academy Award for King Richard, after slapping Chris Rock in the face – Sky News

Markets

MONEY LIVE | Oil prices slide as EU snubs Russia ban – News24

Bitcoin’s Stealth Rally Erases Its Losses for the Year – Daily Maverick