Closing of the Strait of Hormuz could cost Turkey between $13.6 billion and $24 billion
Turkey's additional expenses due to the closure of the Strait of Hormuz could range from $13.6 billion to $24 billion, depending on oil prices.
This was stated by the head of the Turkish Ministry of Energy, Alparslan Bayraktar.
"The crisis could affect us as follows: if oil averages around $100 [per barrel], it will mean an additional $13.6 billion by the end of the year. If the price reaches $125, the costs will rise to $24 billion. These are additional expenses," the minister told journalists.
According to him, due to the crisis in the Strait of Hormuz area, the Turkish treasury could lose approximately 600 billion Turkish lira (about $13.3 billion) in taxes.
Source: TASS
