At dawn on Monday, thousands were killed and injured in a strong earthquake that struck southeastern Turkey near the Syrian border and large parts of northern and western Syria. This earthquake, whose epicenter was near the city of Gaziantep, was followed by another earthquake of almost the same intensity, with its epicenter north of Gaziantep.
The earthquake has left behind – so far – more than 3,500 people from Turkey and Syria, and the number is likely to increase in the coming days, according to Rick Brennan, director of the WHO Regional Office for Emergencies in the Eastern Mediterranean, who told Reuters: “I expect the death toll to increase significantly.” .
- The earthquake struck 10 Turkish cities: Gaziantep, Kahramanmaraş, Hatay, Osmaniye, Adiyaman, Malatya, Şanlıurfa, Adana, Diyarbakir and Kilis.
- Many buildings have collapsed, and rescue teams have been deployed to search for survivors under huge piles of rubble in the freezing cold.
- Among the destroyed buildings was the Gaziantep Citadel, which was built during the Roman Empire, a historical landmark that has stood for more than two thousand years.
This devastating earthquake was not the first of its kind to hit Turkey. In 1999, an earthquake of almost the same strength occurred, and it was known at the time as the “Izmid earthquake” or the “Marmara earthquake.” Turkish official estimates indicate that the death toll reached more than 17,000 and more than 43,000. injured.
Between 35 and 50 billion dollars
A prominent Turkish seismologist, Ovgun Ahmet Erkan, said on his Twitter account:
- The cost of the earthquake ranged between 35 and 50 billion dollars
- While Turkey’s domestic and foreign trade deficit is $110 billion
- The earthquake is a complete disaster
- The cost of one person dying due to the earthquake is 1 million 250 thousand dollars
- Unfortunately, this will lead to a decline in development in Turkey
While the US Geological Survey said that the economic impact is expected to reach more than one billion US dollars as a result of the earthquake.
Vibrations in the financial markets
At the currency level, the Turkish lira fell immediately after the earthquake to a new record low of 18.85 against the dollar, before paring its losses during the day.
While the main stock index in Turkey fell by 4.6 percent, with banks tumbling more than 5 percent, before paring some losses.
According to a report by the British website, Artemis, the majority of economic losses resulting from this devastating earthquake are likely to be unprotected, leading to a loss in insurance and perhaps the reinsurance industry.
Steve Bowen, chief officer at global insurance advisory firm Gallagher Re, says a similar 6.7-magnitude earthquake led to losses of about $600 million when it occurred in the same area during January 2020.
And at the level of the oil and gas sector:
- Suspension of oil exports from the KRG-Turkey pipeline
- The Syrian Ministry of Oil stopped work at the Baniyas oil refinery for 48 hours
- The Turkish oil port in “Ceyhan” stopped, and the port of Iskenderun, located in the Hatay region in the south of the country, was damaged
- The Turkish company BOTAŞ to operate pipelines confirmed that the main pipelines were not damaged
Compulsory insurance
In Turkey, compulsory earthquake insurance is offered to Turks through the Catastrophe Insurance Group TCIP, which has an insurance claim capacity of $2.5 billion.
- Compulsory insurance was approved by the Turkish state after the 1999 Izmit earthquake and belongs to the Natural Catastrophe Insurance Corporation
- The insurance covers damages to buildings after earthquakes
- It includes physical damage, fires, explosions and landslides caused by earthquakes
Syrian losses are huge
As for Syria, it is not yet clear the size of the resulting economic damage, but preliminary estimates indicate that it will not exceed the size of the damage resulting from the civil war.
- Syrian reports spoke of a crack in the Midanki Dam in the Afrin region as a result of the earthquake
- Al Dana Hospital has been severely damaged and has been completely evacuated
- The Civil Defense in northern Syria announced the collapse of 150 buildings completely and 330 partially, and thousands of buildings were cracked in northwestern Syria as a result of the earthquake.
900 years ago
The director of the Qandilli Earthquake Observatory at the Turkish University of Bosphorus and the director of the Turkish Institute of Seismic Research, Mustafa Erdik, said in an exclusive interview with “Sky News Arabia” that: “The location of the earthquake was known, but no one could have predicted the time, as this earthquake accumulated in this The section of the fault in 1114 and over the course of 900 years exerted enough pressure to cause an earthquake of this magnitude.”
He adds, “The earthquake was expected centuries ago in the Hatay, Osmaniye, Kahramanmaras and Gaziantep hills, with a force of 130 atomic bombs. The disaster is huge on a cold winter’s day.”
According to the “Pledge Times” website, the presence of Turkey between the two plates leads to pressure on the region, which is located on many fault lines.
Erdik notes that the East Anatolian Rift, where the earthquake occurred, is the boundary between the Arabian and Eurasian plates. Which leads to absorb all pressure.
The US Geological Survey indicates that “the initial location of the earthquake places it near a triple junction between Anatolia, Arabia and Africa. The mechanism and location of the earthquake corresponds to its occurrence in the East Anatolian Rift Zone or the Dead Sea Transformation Rift Zone.”
The director of the Turkish Seismic Research Institute also said:
- The earthquake is larger than the 1999 earthquake, releasing approximately 4 to 5 times the energy released by the Izmit earthquake
- Turkey needs to “strengthen existing buildings to face earthquakes”
- More than 10,000 buildings were damaged beyond repair
refugee area
While the Turkish academic, Muzaffar Chenil, says that the earthquake occurred in the area where many Syrian refugees live in Turkey, in the city of Gaziantep and Kilis, stressing that it is difficult to “estimate the damage.”
“The Turkish Disaster and Emergency Management Agency took immediate action by sending search and rescue teams of the Disaster and Emergency Management Department immediately to the earthquake-affected areas,” he confirmed in exclusive statements to “Economy Sky News Arabia”.
He adds, “The earthquake zone is located near the Baku Ceyhan pipeline and the Kirkuk-Yumurtalik pipeline, where one of the power plants is located in Yumurtalik, but there is no significant damage to the power plants and pipelines, and most importantly, the first Akkuyu nuclear power plant in Turkey is located.” Also around, but everything is safe.”
The Turkish academic agrees with the director of the Turkish Seismic Research Department on the need for “Turkey to follow a policy of damage reduction, and to take stricter measures in the construction of buildings.”
And he continues, “Since 1999, Turkey has taken a big leap in constructing buildings in accordance with international procedures and limiting damage, but 6 years ago, Turkey lost control of everything.”
so complicated
While the geological expert at the University of Bosphorus, Murat Turkis, believes that “the tectonic system of the region where the earthquake occurred, especially the active fault structure and geography, is very complex.”
In a brief interview with Sky News Arabia, he indicated that “new research, new information and data will reveal a lot of information about that region in the next few months.”
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