Impact of Russia-Ukraine war greater than that of Mideast crisis — Kwasi Kwarteng
A member of the New Patriotic Party’s national communications team, Kwasi Kwarteng, has argued that the economic impact of the Russia-Ukraine war outweighs that of the ongoing tensions in the Middle East.
Speaking on Accra-based JoyPrime TV on Thursday, April 9, he said the Russia-Ukraine conflict has had a broader systemic effect on the global economy, while the Middle East situation is largely concentrated in the energy sector.
The comments come amid renewed public discussions on global geopolitical tensions following recent coordinated military action involving the United States and Israel in Iran, which has raised concerns about potential disruptions in global oil supply.
Kwarteng stated that the Russia-Ukraine war has affected multiple sectors, including agriculture, energy, and logistics, noting its ripple effects on food prices and inflation globally.
According to him, “What people fail to acknowledge is that the impact of the Russia-Ukraine war was even more than this… it goes beyond sectoral and it’s systemic.”
He further added that, “Russia produces a lot of fertilizer… the logistical constraints that even came was occasioned by the war."
The NPP communicator atressed that disruptions in production and supply chains have contributed significantly to global economic pressures.
His remarks come amid ongoing debates between the two parties on whether it is justifiable to blame fuel price hikes on the tensions on the gulf region when the NDC initially rejected the fact that Russia's invasion of Ukraine impacted the country's economy.