"Punishing Qatar comes to mean punishing Turkey, as the Turkish economy runs thanks to hot money from Qatar," he told Xinhua.

Burhan Kuzu, a top adviser to President Erdogan, believes Turkey is the real target in the crisis.

"They are trying to strike (Turkey) via Qatar. This is a project aimed at isolation," he told the news portal gazeteduvar.com.tr.

Maintaining that Qatari financial investments in Turkey may even be bigger based on various reports in local media, Uzgel said "therefore the place of Qatar is indispensable for Turkey under current conditions."

"Turkey's disproportionate support to Qatar is clearly propelled by the heavy dependence of the Turkish economy on Qatari funds," stated Logoglu.

Other than being a major direct investor, Qatar is estimated to be a leading provider of hot money for the Turkish economy, which is hugely dependent on foreign funds.

Many also feel that the swift support by Turkey's ruling Justice and Development Party (AKP) to Qatar has more to do with its financial ties with the Gulf country than with national interests.

The AKP's financial interests rather than Turkey's national interests play a determining role in the government's position regarding the crisis, maintained Halacoglu.

Noting the ruling party did not move as fast in the past when some national interest was at stake, he said "those who govern Turkey are aware they can not remain in power if the inflow of Qatari money stops."

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