ECOWAS Warns of Economic Shockwaves from Gulf Conflict

The Economic Community of West African States (ECOWAS) has expressed alarm regarding the escalating hostilities in the Gulf region, cautioning that prolonged conflict could unleash severe economic and security repercussions for West Africa. This statement was issued under the chairmanship of Julius Maada Bio, the President of Sierra Leone.

ECOWAS aligns itself with the earlier position of the African Union, voicing deep concern over intensified military exchanges in a time when the global energy market is already on edge. The Gulf region is crucial for international oil supply, accounting for a significant share of global crude exports, while West African economies are net importers of refined petroleum products.

The statement highlights the potential for rising domestic inflation and increased transport and food costs due to volatile oil prices. ECOWAS urges all parties to exercise maximum restraint and adhere strictly to international law, emphasizing the protection of civilian lives and critical infrastructure.

The bloc calls for renewed diplomatic engagement to establish a framework for dialogue and de-escalation.