Ankara: Turkish Minister of Energy Alparslan Bayraktar has warned that the ongoing geopolitical crisis in the Middle East could escalate to a level affecting the global economy.
Speaking to the press on Wednesday, Bayraktar described the current tensions and conflicts in the region as extremely serious, with potential worldwide repercussions.
He noted that while the world has experienced periods of high energy prices and inflation in the past, the current crisis could be even more destructive if it continues over an extended period.
Bayraktar emphasized that global energy security depends on both supply and transport. He pointed out that about 20% of the world's oil and liquefied natural gas traditionally passes through the Strait of Hormuz, but current constraints have disrupted these flows.
The minister reassured that Turkiye itself does not face an energy supply problem, with only around 10% of its energy imports dependent on the Hormuz route.
