In a recent address following a Cabinet meeting in Ankara, President Recep Tayyip Erdoğan underscored the far-reaching impact of the ongoing war in Iran, highlighting how its economic and political repercussions are resonating across the globe. He emphasized the interconnected nature of today’s world, where regional conflicts can have global consequences, such as inflation, supply chain disruptions, and energy market instability.
Erdoğan remarked that the effects of the conflict in the Middle East are being felt as far away as Latin America and Asia. He described the situation as a “multilayered crisis” that threatens global stability, citing ongoing volatility in fuel prices and unresolved supply chain challenges, particularly in the crucial Strait of Hormuz. The Turkish president warned of the unpredictable extent of the economic shock wave’s destruction, condemning a system he believes is driven by speculation and market manipulation.
Criticizing the profiteering system, Erdoğan accused a few wealthy capitalists of benefiting at the expense of billions worldwide, from Africa to Latin America. He pointed out that while middle- and lower-income families struggle with diminishing purchasing power and rising living costs, global financial players continue to amass wealth amid instability and conflict. He noted that the current situation with the Iran war has surpassed tolerable limits and is detrimental to global economic prosperity.
Domestically, Erdoğan addressed the issue of unjustified price increases in Türkiye, arguing that some market behaviors cannot be justified by production or transportation costs, given the country’s relatively low input costs, particularly in energy. He pledged ongoing inspections and measures against opportunistic pricing, urging businesses to support efforts to maintain market stability and protect consumers.
Additionally, Erdoğan condemned Israel’s actions, labeling them as “piracy” and “banditry” in response to their attack on the Global Sumud Flotilla. He affirmed that such actions would not deter the international community’s commitment to justice and solidarity with the Palestinian people, highlighting the diverse nationalities of the “voyagers of hope” aboard the aid flotilla.