Erdogan Links Energy Security to National Sovereignty Amid Global Crises
Speaking at a renewable energy investment event in Ankara, Erdoğan pointed to the impact of the Russia-Ukraine war and disruptions involving the Strait of Hormuz as key examples showing how vulnerable global energy systems can be during geopolitical crises.
He said Türkiye has recently activated energy investments worth around $5 billion, supporting facilities with a combined capacity of 6,818 megawatts, and emphasized that the country is steadily strengthening its position as a regional energy hub.
Erdoğan also referred to the Strait of Hormuz as a critical global energy route and described its disruption as having major consequences for global markets.
With the de facto closure of the Strait of Hormuz—the gateway for Gulf countries to the open seas—the largest oil supply disruption in history occurred, he reminded.
He stated that the disruption affected roughly 25% of global oil flows and around 20% of liquefied natural gas trade, triggering sharp increases in global energy prices.
Oil prices, which had previously hovered near $60 per barrel, reportedly doubled during the crisis, he added.
He also noted that price increases extended beyond oil and gas, affecting products derived from petroleum such as fertilizers and plastics, contributing to broader inflationary pressures worldwide.
According to Erdoğan, governments introduced emergency measures similar to those seen during the COVID-19 pandemic in response to energy shortages and price spikes, including school closures, traffic restrictions, and flight cancellations, while fuel queues formed in many countries.
He warned that rising energy costs have contributed to global inflation and economic instability, adding that although a global recovery had been expected earlier, prolonged disruptions are now increasing the risk of recession in several economies.
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