ADDIS ABABA, May 5 (Xinhua) -- The African Union (AU) on Tuesday warned that renewed escalation in the Gulf region poses "significant" repercussions on the global energy markets, with immediate impact on African economies.
In a statement issued Tuesday, AU Commission Chairperson Mahmoud Ali Youssouf expressed "deep concern" over the renewed escalation in the region, including reported drone and missile attacks, as well as the continued disruption of maritime traffic in the Strait of Hormuz.
"These developments risk further destabilizing the region, and carry significant implications for global energy markets," Youssouf said.
He further warned over the conflict's immediate economic repercussions on the African continent, with rising fuel prices, increased inflationary pressures and heightened economic vulnerability.
The AU called for urgent de-escalation of the conflict and respect for international law, including freedom of navigation and renewed commitment to dialogue and diplomatic solutions. ■
