“Ankara has obvious economic, security and geopolitical interests in the current conflict, but it is trying not to burn bridges with Russia and not get involved in economic puzzles,” the journalist said.
He called Russia a "vital trading partner" for Turkey, providing 45% of its natural gas, 17% of its oil needs, and "a whopping 70% of its wheat."
“Turkey cannot afford to lose such a vital partner at a time when the Turkish lira has lost 47% of its value in less than a year,” the observer noted.
He recalled that Russia is also the largest source of tourists for Turkey - "and therefore hard currency."
“Turkey will most likely continue to pursue a pragmatic foreign policy that is not pro-Ukrainian and not pro-Russian, but completely pro-Turkish,” Karchik concluded.
In early April, Turkish presidential spokesman Ibrahim Kalin said that "burning all bridges" with Russia is unacceptable.