Turkey’s currency crisis has exposed a key weakness in its economy: a near total dependence on imported energy to keep households warm and factories humming.
Turkey is surrounded by some of the world’s richest reserves of fossil fuels, in the Middle East and Central Asia, but produces little oil, gas or coal of its own. The country imports 93% of the oil and 99% of the gas it consumes, a vulnerability when energy prices in dollars climb and the lira slides.