In the wake of the conflict with Iran, President Recep Tayyip Erdoğan highlighted the far-reaching effects of such regional crises on a global scale. At a press conference following a Cabinet meeting in Ankara, Erdoğan emphasized that today’s interconnected world means that no nation is insulated from the ripple effects of international turmoil. The repercussions of the Iran war, he noted, are extending across continents, manifesting as inflation, supply chain challenges, and instability in energy markets.
Addressing the ongoing volatility, Erdoğan explained that globalization and economic interdependence have elevated regional conflicts to global concerns. He likened the situation to a scenario where a disturbance in the Middle East could easily impact countries as distant as Latin America or Asia. The president referenced the attacks against Iran on February 28, describing them as a complex crisis contributing to global instability, with persistent issues such as fluctuating fuel prices and unresolved bottlenecks in the Strait of Hormuz.
Erdoğan expressed concern over the unpredictable extent of the economic shock wave’s damage. He criticized what he termed a profiteering system, alleging that speculative practices and market manipulation are enriching a few at the expense of billions worldwide. The Turkish leader argued that this dynamic is exacerbating the economic divide, with middle and lower-income families facing escalating costs and diminishing purchasing power, while financial elites continue to amass wealth through conflict-driven instability.
Furthermore, Erdoğan addressed domestic economic challenges, particularly criticizing unjustified price hikes in Türkiye’s markets. He argued that some price increases couldn’t be solely attributed to production or transportation costs, especially considering Türkiye’s competitive energy input costs. The government, he said, would persist with inspections and actions against exploitative pricing, urging businesses to aid efforts in maintaining market stability and protecting consumers.
In his remarks, Erdoğan also condemned Israel’s attacks, asserting that such actions would not deter the global pursuit of justice and solidarity with the Palestinian people. He labeled the assault on the Global Sumud Flotilla, which carried citizens from 40 nations, as “piracy” and “banditry,” standing firm in his condemnation of what he described as acts against “voyagers of hope.”