Istanbul (Turkiye Khabar): Turkish President Recep Tayyip Erdoğan has said that the Russia–Ukraine war and the possibility of closure of the Strait of Hormuz have made it clear that ensuring energy supply is not only a matter of development, but also a question of national sovereignty and security.
Addressing a renewable energy investment ceremony in Ankara, he said that Turkey has completed multiple projects in the energy sector with an investment of 5 billion dollars, with total production reaching 6,818 megawatts.
President Erdoğan said that Turkey is emerging as an important energy hub in the region, and its significance is increasing day by day.
He added that the possible closure of the Strait of Hormuz caused severe disruptions in global energy supply, leading to a sharp increase in global oil and gas prices.
According to him, the situation affected the global economy, increased inflation, and forced several countries to adopt strict energy-saving measures, including closure of educational institutions, traffic restrictions, and flight cancellations.
He further stated that the rise in energy prices has not been limited to oil and gas only, but has also impacted sectors such as fertilizers and plastics.
President Erdoğan noted that although earlier there were expectations of improvement in the global economy, the current energy crisis has now raised fears of economic slowdown and possible recession in several countries.
