During a press briefing in Ankara following a Cabinet meeting, President Recep Tayyip Erdoğan highlighted the interconnected nature of today’s global landscape, stressing that no nation is immune to the ripple effects of crises occurring in distant regions. He pointed out how the economic and political repercussions of the ongoing conflict in Iran have transcended borders, manifesting as inflation, disruptions in supply chains, and instability in energy markets worldwide.
Erdoğan emphasized that globalization and the intricate web of economic dependencies mean that regional conflicts now have far-reaching implications. He likened the situation to a scenario where disturbances in the Middle East could have significant impacts on countries as far away as Latin America or Asia. Referring to the aftermath of the attacks on Iran on February 28, he described a complex crisis that poses a threat to global stability.
The Turkish president noted specific indicators of global fragility, such as fluctuating fuel prices, escalating inflation, and ongoing supply chain issues exacerbated by bottlenecks in the Strait of Hormuz. He expressed concern over the long-term effects of these economic shocks, criticizing what he views as a market system driven by speculation and manipulation, which enriches a select few while undermining the livelihoods of billions across various continents.
Erdoğan condemned the actions of what he termed “wild capitalists” who he claims profit from instability, highlighting how these activities disproportionately affect middle- and lower-income families by eroding their purchasing power amidst soaring living costs. He noted that the economic ramifications of the Iran conflict have surpassed tolerable limits, threatening global economic prosperity.
In addition to addressing these international concerns, Erdoğan also took aim at domestic economic practices, criticizing unjustified price hikes in Türkiye’s markets. He argued that such increases cannot be solely attributed to production or transport costs, particularly given the country’s relatively low energy input costs compared to the rest of Europe. Erdoğan assured that the authorities would continue to monitor and counter opportunistic pricing, urging businesses to collaborate in efforts to uphold market stability and safeguard consumers. Furthermore, he condemned Israel’s attacks on the Global Sumud Flotilla, labeling them as acts of “piracy” and “banditry” against those aboard, and reaffirmed Türkiye’s solidarity with the Palestinian people.