During a news conference following a Cabinet meeting in Ankara, Turkish President Recep Tayyip Erdoğan emphasized the far-reaching consequences of regional conflicts in today’s globalized world, specifically highlighting the economic and political ripple effects of the conflict involving Iran. He noted that the interconnectedness of nations means that crises in one region can have significant impacts across the globe, manifesting through increased inflation, disrupted supply chains, and volatile energy markets.
Erdoğan remarked on the interconnectedness of global economies by stating, “When a country in the Middle East sneezes today, a country in Latin America or Asia can easily catch a cold.” He described the aftermath of the February 28 attacks on Iran as a complex crisis affecting worldwide stability. He cited fluctuating fuel prices, persistent inflation, ongoing supply chain issues, and bottlenecks in the Strait of Hormuz as evidence of the growing global vulnerability.
The Turkish leader expressed concern over the unpredictable scale of economic damage caused by these developments, condemning a system he accuses of being driven by speculation and market manipulation. He criticized “a handful of wild capitalists” who, through controlling hot money, are enriching themselves at the expense of billions across continents, while middle- and lower-income families face increasing economic hardship.
Erdoğan further commented on the impact of the Iran conflict on the global economy, suggesting that the situation has surpassed tolerable limits and is damaging economic prosperity worldwide. He also addressed domestic issues, criticizing unjustified price hikes in Türkiye, which he attributes to opportunistic practices rather than authentic production or transportation cost increases, despite Türkiye having some of the lowest energy input costs in Europe.
In addition, Erdoğan condemned Israel’s actions against the Global Sumud Flotilla, describing them as “piracy” and “banditry” against those aboard, whom he referred to as “voyagers of hope.” He reaffirmed that such attacks would not deter the international community from seeking justice and supporting the Palestinian people. He urged businesses to support measures aimed at maintaining market stability and protecting consumers, while affirming continued governmental efforts to counter exploitative pricing practices.