Russian President Vladimir Putin was speaking live on state-owned TV channel Rossiya 24
He has called the downing of a Russian jet at the Turkey-Syria border “a stab in the back by the accomplices of terrorists”.
Mr Putin said: “We will analyse everything in detail and today’s tragic events will have significant consequences including for relations between Russia and Turkey.”
He said the aircraft was inside Syrian airspace – 4km from the Turkish border – when it was hit, news agencies report.
Putin said the plane was targeting terrorist targets in the Latakia province of Syria, many of whom came from Russia.
Russia has for a long time been aware of oil going from Syria under the control of terrorists to Turkey, Putin said. The money finances terrorist groups.
“ISIS has big money, hundreds of millions or even billions of dollars, from selling oil. In addition they are protected by the military of an entire nation. One can understand why they are acting so boldly and blatantly. Why they kill people in such atrocious ways. Why they commit terrorist acts across the world, including in the heart of Europe,” the Russian leader said.
Vladimir Putin accused Turkey of allying itself with ISIS, when it shot down the Russian plane and warns: “we will never tolerate such atrocities”.
Mr Putin ended his speech by suggesting Turkey wanted Nato “to serve” ISIS. He earlier described the Turks as “accomplices of terrorists”.
“Instead of contacting us, Turkey went to its partners in Nato to discuss this incident. As if it was us who downed a Turkish plane, and not vice versa. What? They want to make NATO serve ISIS?”