In a recent address, Turkish President Recep Tayyip Erdoğan highlighted the global repercussions of regional conflicts, emphasizing that no nation can shield itself from the ripple effects of crises occurring elsewhere. At a news conference following a Cabinet meeting in Ankara, Erdoğan underscored how the war in Iran is creating economic and political disturbances that span continents, manifesting through inflation, supply chain interruptions, and instability in energy markets.
Erdoğan elaborated on the intertwined nature of modern economies, noting how globalization and deep economic dependencies mean that regional upheavals can have far-reaching consequences. “When a country in the Middle East sneezes today, a country in Latin America or Asia can easily catch a cold,” he remarked, characterizing the uncertainty following the February 28 attacks on Iran as a complex crisis influencing global stability. He cited ongoing volatility in fuel prices and unresolved supply chain issues, along with bottlenecks in the Strait of Hormuz, as indicators of growing global fragility.
Warning of the unpredictable extent of economic damage from the crisis, Erdoğan criticized what he sees as a profiteering system fed by speculation and market manipulation. He accused a select group of capitalists controlling hot money of enriching themselves at the expense of billions of people worldwide, from Africa to Asia and the Americas. While middle- and lower-income families grapple with diminishing purchasing power and increasing living costs, global financial actors, he argued, continue to amass wealth amid instability and conflict.
“Every war creates its own economy,” Erdoğan stated. “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.” He also criticized domestic market price hikes in Türkiye, suggesting that some of these increases are not justified by production or transportation costs, despite Türkiye having some of the lowest input costs in Europe, especially in energy. Erdoğan assured that authorities would persist in inspecting and curbing opportunistic pricing practices and urged businesses to support efforts toward maintaining market stability and consumer protection.
In addition, Erdoğan condemned Israel’s actions, vowing that their attacks would not deter the international community’s fight for justice and solidarity with the Palestinians. He strongly denounced Israel’s assault on the Global Sumud Flotilla, labeling it “piracy” and “banditry” against the “voyagers of hope” aboard the aid flotilla, which carried citizens from 40 nations.