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ARTICLE · 08 APRIL 2026

Force Majeure And Hardship: An Assessment In Light Of Current Issues

Paksoy
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Price fluctuations in oil markets resulting from geopolitical tensions adversely affect companies operating in numerous sectors, particularly energy-intensive industries.

TurkeyEnergy and Natural Resources
Serdar Ildırar
Serdar Ildırar
Barkın Demiray
Barkın Demiray
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Price fluctuations in oil markets resulting from geopolitical tensions adversely affect companies operating in numerous sectors, particularly energy-intensive industries. Such price volatility and shifts in supply–demand dynamics have brought the concepts of force majeure and hardship back into focus, particularly in relation to raw material and energy costs.

This newsletter provides an overview of these two concepts, along with our assessments in light of current market developments.

Force Majeure

Force majeure is recognized under Turkish law as the complete impossibility of performance of an obligation due to an event that arises after the formation of a contract, which the parties could not have foreseen and which is beyond their control. Events that may be considered within the scope of force majeure include war, acts of terrorism, natural disasters, embargoes, and the closure of trade routes.

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