World press on Ukrainian crisis' impact on Turkey (March 5, 2014)

Hürriyet Daily News published an article by Erdal Sağlam headlined "Ukraine crisis to hit Turkish economy too." 

"The crisis in Ukraine also closely concerns the Turkish economy and it is vitally significant for Turkey that it be solved through peaceful means. This crisis has coincided with a period when economic balances were already disrupted in the country," the author writes. 

"Especially when considering the United States has mentioned an embargo against Russia, this constitutes an enormous threat to the Turkish economy. The foreign trade of Turkey – which will have to act together with the West in the event that the crisis is not solved and an embargo is implemented – and maybe more important than that, its entire energy supply security, will be at risk," the article reads. 

"It should not be forgotten that at the end of 2013, Russia had become Turkey’s biggest importing partner. Imports worth $25.1 billion, or 10 percent of the total, are taken from Russia, and natural gas constitutes a very big portion of this. Besides, Russia is the fourth biggest country in Turkey’s exports. Turkey exports 4.6 percent of its total exports, or $7 billion, to Russia," the author writes. 

"Further than that, a very big portion of Turkey’s natural gas imports are sourced by Russia. In other words, an economic embargo by the West, which Turkey would likely have to comply with, would create a series of major problems from the heating needs for Turkish households to production in major industries," the article reads.

"Besides this, Crimea which is at the center of the conflict between Russia and the West, concerns Turkey closely because of their cognates here. It is apparent that Turkey, also taking into consideration this closeness, is devoting great effort to ensure that Crimea remains a part of Ukraine. Meeting at the same point with the West almost obligates Turkey to comply with the sanctions to be imposed on Russia," the author writes.