Turkey's economy stands to lose tens of billions if Iran war lasts 90 days — newspaper
According to the report, the most serious disruptions were recorded in export operations with Iran
ISTANBUL, March 10. /TASS/. The Ekonomim business newspaper writes that Turkey will lose tens of billions of dollars in export revenues and tourism dollars from the Middle East if the Iran war lasts for three months.
Turkey’s exports to Middle Eastern countries through the territory of neighboring Iran exceed $31 bln per year, according to the publication. The region also accounts for around $7 bln worth of revenues from tourism. Orders are already being recalled from countries of the region, the paper wrote.
The most serious disruptions were recorded in export operations with Iran, according to Ekonomim. Border crossings are backed up for miles, and goods destined for Iran are piling up in regional warehouses, the newspaper said. Meanwhile, Turkish authorities have not yet reported that trucks are being held up at the Iranian border.
Last year Turkey's exports reached $273.4 bln, while tourism revenues equaled $65 bln, the newspaper noted. "In the worst-case scenario, Turkey’s total losses could exceed 10% of its revenues from those two items," the publication said.
The United States and Israel launched a military operation against Iran on February 28. Major Iranian cities, including Tehran, were struck. The White House justified the attack by citing alleged missile and nuclear threats from Iran. The Islamic Revolutionary Guard Corps announced a retaliatory operation, targeting sites in Israel. US military bases in Bahrain, Jordan, Kuwait, Qatar, Saudi Arabia and the UAE were also hit. Supreme Leader Ayatollah Ali Khamenei and some other key Iranian leaders were killed in the joint US-Israeli attack.