Eswatini

Eswatini faces significant energy security vulnerabilities, being a landlocked nation entirely reliant on South Africa for its 100% oil import needs. Gasoline prices stand at $1.35/L, with critically low reserves of just 15 days, leaving the country highly exposed to supply shocks. The high food risk and 65% surge in fertilizer prices exacerbate economic pressures, particularly for its agricultural sector. Eswatini's immediate future is heavily dependent on the stability of South Africa's supply lines and its capacity to manage rising import costs.