President Recep Tayyip Erdoğan has emphasized the interconnected nature of today’s world, warning that no nation can remain insulated from crises occurring elsewhere. In a recent news conference following a Cabinet meeting in Ankara, Erdoğan highlighted the global repercussions of the conflict involving Iran, which are manifesting as inflation, supply chain disruptions, and instability in energy markets.
Erdoğan pointed out that globalization and economic interdependence mean regional conflicts can have far-reaching global impacts. He illustrated this by saying, “When a country in the Middle East sneezes today, a country in Latin America or Asia can easily catch a cold.” He described the situation following the attacks on Iran on February 28 as a complex crisis affecting global stability, with rising fuel prices, escalating inflation, and ongoing supply chain issues, particularly around the Strait of Hormuz, signaling increasing global vulnerability.
The Turkish president further critiqued the economic systems profiting from turmoil, accusing a small group of capitalists of exploiting financial instability to amass wealth at the expense of billions worldwide. He noted that while middle- and lower-income families face diminishing purchasing power and escalating costs of living, financial elites continue to grow their fortunes amid chaos. Erdoğan stated, “Every war creates its own economy. Every war has its winners and losers. But with the Iran war, this has exceeded the limits of tolerance and reached destructive levels for global economic prosperity.”
Domestically, Erdoğan condemned unjustified price hikes, asserting that some pricing behaviors in Türkiye cannot be justified by production or transportation costs, despite the country’s low input costs, particularly in energy. He assured that the government would persist in inspecting and curbing opportunistic pricing practices, urging businesses to participate in efforts to maintain market stability and protect consumers.
Erdoğan also addressed the international ramifications of Israel’s actions, condemning the attack on the Global Sumud Flotilla as “piracy” and “banditry.” He affirmed that such actions would not deter the global community’s commitment to justice and solidarity with the Palestinian people, referring to the flotilla as “voyagers of hope” that included citizens from 40 different countries.