MOSCOW (Web Desk) – Russian Prime Minister Dmitry Medvedev on Wednesday said that Turkish trading companies may lose access to Russian markets in retaliation to Tuesday’s incident of downing of warplane by Turkey.

According to Moscow based Russia Today, Medvedev went on to say that Turkish authorities have direct interest in the growing oil trade of Islamic State militant group and the recent downing of Russian plane was also a support to the terrorist group.

He said that Russia was considering serious step following the criminal and reckless action of Turkish air force.

We have already recommended the Russian nationals to avoid travelling to Turkey fearing terrorist attack against them, he said.

Earlier on Tuesday, Russian president Vladimir Putin had warned Turkey of ‘serious consequences’ after a Russian fighter jet was shot down close to Turkey’s border with Syria.

During a press conference in Tehran, Putin described the incident as a “stab in the back” and accused Turkey of siding with Islamic State militants in Syria.

The Turkish military said it shot down the plane after it penetrated Turkish airspace in the province of Hatay at 9.20am warning it to leave 10 times in five minutes before it was shot down. Turkey published radar images claiming to show the plane briefly flying over its southern territory.

Russia said its SU-24 plane never left Syrian airspace. Putin said it came down 4km from the border with Turkey and did not pose a threat to Turkey.