Well, Turkey will only get richer of this. The rich arab countries are investing in Turkey every time Erdogan say anything about Israel. United States can't do anything as Turkey is a stronghold for NATO. Although Israel won't suffer so much economically, the isolation will become a problem.
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Security cabinet to convene Friday morning to discuss Gaza escalation (Haaretz)
from the article: Turkey may expel Israeli ambassador in wake of Gaza flotilla report