President Recep Tayyip Erdoğan has highlighted the far-reaching implications of the war in Iran, emphasizing the global economic and political disruptions it has triggered. Addressing reporters after a Cabinet meeting in Ankara, Erdoğan outlined how interconnectedness in today’s world means that regional conflicts like the one in Iran have ripple effects felt worldwide, manifesting as inflation, energy market instability, and supply chain challenges.
Erdoğan stressed that the ongoing turmoil following the attacks on Iran on February 28 is a complex crisis threatening global stability. He likened the situation to a metaphorical illness, where disturbances in one region can affect distant parts of the world. The Turkish leader pointed to the volatility in fuel prices, persistent inflation, and unresolved supply chain issues, particularly bottlenecks in the critical Strait of Hormuz, as indicators of increasing global fragility.
The president warned of the unpredictable scale of destruction caused by the economic shock, criticizing what he described as a speculative and manipulative financial system. He accused a small group of capitalists of profiting at the expense of billions worldwide, noting that while middle and lower-income families face shrinking purchasing power, these financial actors continue to expand their wealth amid instability and conflict. Erdoğan lamented that the economic impact of the Iran war has surpassed tolerable limits, threatening global economic prosperity.
Domestically, Erdoğan criticized unjustified price hikes in Turkish markets, arguing that some pricing practices cannot be justified by production or transportation costs, especially since Türkiye benefits from some of Europe’s lowest input costs, notably in energy. He pledged that authorities would persist in their efforts to curb opportunistic pricing and urged businesses to help maintain market stability and protect consumers.
Additionally, Erdoğan condemned Israel’s actions, stating that its attacks would not deter the international community’s commitment to justice and solidarity with the Palestinian people. He denounced Israel’s assault on the Global Sumud Flotilla, describing it as “piracy” and “banditry” against the “voyagers of hope” aboard the aid flotilla, which included participants from 40 countries.