The Deputy Chief Executive Officer of the Petroleum Hub Development Corporation, Onasis Kobby, has stated that the ongoing tensions involving Iran, Israel, and the United States cannot be compared to the Russia–Ukraine War in terms of economic and trade impact on countries like Ghana.
According to him, during the war between Russia and Ukraine, Russia itself was not heavily bombed, and trade relations with many countries continued with some level of flexibility.
Speaking on the matter, Mr. Kobby noted that the current tensions in the Middle East have had a more direct effect on global trade and aviation activities, particularly affecting countries that serve as major trading hubs for Ghanaian businesses.
He explained that many Ghanaian traders frequently travel to countries such as China, India, and the United Arab Emirates to purchase goods. However, he pointed out that the temporary halt in aviation activities in the UAE recently demonstrated how vulnerable trade can be when conflicts escalate in the region.
“For almost a week, flights from Emirates were grounded. Imagine the impact on traders from places like Kumasi and Makola Market who depend on travel to Dubai for their businesses,” he said.
Mr. Kobby emphasized that Ghana’s trade volume with China, India, and the UAE is significantly larger than its trade relations with Ukraine. Because of this, he argued that the economic consequences of instability in the Middle East are likely to be more severe for Ghana.
He further criticized attempts by some commentators to equate the Russia–Ukraine war with the current Middle East conflict, describing such comparisons as politically motivated rather than based on factual analysis.
“If you examine the data and analyze the economic implications, it becomes clear that the two situations are not the same,” he stressed.
He also indicated that the wider regional tensions have affected several countries in the Middle East, leading to the shutdown of some refineries and disruptions in energy supply chains.
Mr. Kobby therefore urged analysts and political commentators to rely on factual data when discussing the global economic implications of international conflicts.
Story: Nyamebeye Kofi Ansah Sasraku