In a stark warning about the interconnected nature of today’s global economy, President Recep Tayyip Erdoğan highlighted how no nation can remain untouched by crises occurring elsewhere. He specifically referred to the economic and political fallout from the Iran conflict, which has reverberated worldwide, causing inflation, disruptions in supply chains, and instability in energy markets.
Addressing the media after a Cabinet meeting in Ankara, Erdoğan emphasized that globalization and deep economic interdependence have transformed regional conflicts into global issues. He described the situation following the February 28 attacks on Iran as a complex crisis impacting global stability. “When a country in the Middle East sneezes today, a country in Latin America or Asia can easily catch a cold,” he remarked, pointing to ongoing volatility in fuel prices, climbing inflation, and continued supply chain challenges as evidence of increasing global fragility.
Erdoğan expressed concern over the unpredictable extent of damage from this economic shock, criticizing what he sees as a system of profiteering through speculation and market manipulation. He argued that a few capitalists are enriching themselves at the expense of billions in Africa, Asia, and the Americas. As middle- and lower-income families face diminishing purchasing power and rising costs, he noted, global financial players continue to amass wealth through instability and conflict. “Every war creates its own economy,” Erdoğan stated, warning that the Iran conflict has pushed the boundaries of tolerance and reached destructive levels for global economic prosperity.
Domestically, Erdoğan criticized unjustified price hikes in Türkiye’s markets, suggesting that some pricing practices cannot be solely attributed to production or transportation costs, especially given the country’s low energy input costs compared to Europe. He pledged to maintain inspections and measures against opportunistic pricing and urged businesses to support efforts to protect market stability and consumers.
Erdoğan also condemned Israel’s actions, asserting that its attacks would not deter the international community from seeking justice and showing solidarity with the Palestinian people. He denounced Israel’s assault on the Global Sumud Flotilla as “piracy” and “banditry” against the “voyagers of hope,” which included citizens from 40 countries, demonstrating his strong stance on the issue.