The Ghana Union of Traders’ Associations (GUTA) has warned that the escalating US-Israel-Iran crisi could severely impact Ghanaian businesses, potentially causing economic strain.
This was conveyed in a statement signed by the President of GUTA, Mr Clement Boateng. According to GUTA, the attack by the US and Israel on Iran which has also been left with retaliation by Iran has led to serious disruptions on major oil refineries which has hindered the shipment of oil from the Middle East.
GUTA noted that this is of great concern as it has pushed the prices of oil and gas up and also caused supply chain disruptions.
The Association is worried that if no solution is found, it’s effect on businesses will be overwhelming.
GUTA called for the international community to intervene as a matter of urgency to broker peace and bring relief to humanity and the global business community at large.
The association also called on the government to try and put measures in place to store enough fuel at any point in time so that in the event the war is extended, the state will not be found wanting.
GUTA advised its members and the business community to exercise restraint and refrain from traveling to these conflict areas until the war is brought to an end.
