Africa Feels Ripple Effects of Israel-Iran Conflict in Oil Prices

Regional leaders have added their voices to international efforts to end the conflict between Israel and Iran, which began on June 13 after an attack on Iran’s military and nuclear facilities, as some African nations are affected by the conflict.

South African President Cyril Ramaphosa has urged the warring parties to give the UN the “opportunity and space” to lead peace efforts, which, he said, should include the “inspection and verification of Iran’s status of uranium enrichment, as well as its broader nuclear capacity”.

Uganda’s Yoweri Museveni has called on Israel and Iran to “draw back from the use of force and go back to principled diplomacy”. While acknowledging Israel’s “right to exist”, the Ugandan leader said “force should be for legitimate defence and not for aggression”.

As the war between the State of Israel and the Islamic Republic of Iran escalates, experts on global affairs have warned that further escalation of the conflict has the potential of disrupting trade routes, affect oil prices and disturb world peace as more alliances are beginning to manifest with a threat of a looming “Third World” War.

Many of the experts who spoke with LEADERSHIP Sunday expressed dismay at the sudden eruption of hostilities between the two embittered foes allegedly sworn to a doctrine to destroy each other, and called for caution.
On how the crisis will affect Nigeria in particular, if it escalates, the former envoy, who once served in Iran, said the conflict will lead to a spike in crude oil prices and that will be a welcomed development for Nigeria stating that he first oil boom the country enjoyed was on the back of the Arab-Israeli war in 1973.

From the perspective of the faith-based organisations and their adherents, the former envoy said that given that Nigerians, on the average, are a very religious (but not necessarily godly) people, it will lead to a further polarisation of the religious majority which is not good for a society that is already stressed to the limits.

Source: allafrica.com

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