Turkish President Recep Tayyip Erdoğan has warned that, in an increasingly interconnected world, no country can remain unaffected by crises unfolding in other regions, and stated that the economic and political consequences of the war between Iran, the US and Israel are already being felt across different continents through rising inflation, disruptions to supply chains and instability in energy markets, jeopardising the entire global economy.
During a press conference held following a Cabinet meeting in Ankara – at which Erdoğan also strongly condemned the Israeli attack on the Global Sumud Flotilla bound for Gaza, describing it as “piracy” and “banditry” against those he described as “travellers of hope” — the Turkish leader stressed that the crisis that began in late February with the attacks on Iran is having effects on the global economy and regional security, emphasising that globalisation and deep economic interdependence mean that regional conflicts now have repercussions on a global scale.
Erdoğan stressed that the world is facing a situation of uncertainty on multiple fronts, explaining that fuel prices have not yet stabilised, that inflation continues to rise in many countries, that disruptions to supply chains persist and that the blockade in the Strait of Hormuz has not yet been lifted, and warned that the war in Iran has reached a destructive level for global economic prosperity, according to reports by Turkish media outlets.
“A handful of predatory capitalists who control speculative money are getting rich, effectively snatching the livelihoods of billions of people from Africa to Asia and from the United States to Latin America,” Erdoğan stated. “Every war creates its own economy. Every war has its winners and its losers. But with the war in Iran, this has exceeded the limits of tolerance and reached levels that are destructive to global economic prosperity,” he added.
The Turkish president assured, however, that thanks to the measures adopted over the last 23 years in Turkey in areas such as the Turkish economy, investment, security, energy, trade and tourism, the impact of the crisis caused by the war in Iran has remained minimal compared to other countries. In this context, Erdoğan recalled that Turkey has maintained a stance of prudence from the very first day of the conflict in the face of attempts to draw it into the war in the Middle East, and stated that, despite the situation in its immediate vicinity, Turkey continues to stand out as an “island of stability” in the midst of an extremely unstable and volatile region.
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Edited and reviewed by:
Pablo Gómez is a specialist in Turkey and has been editor-in-chief of Hispanatolia since 2011. He has been analysing current affairs and geopolitics in Turkey and the surrounding region since 2006.
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