Turkish economy risks losing $9b over Russia crisis: Deputy PM

Tensions with Russia could cost Turkey's economy $9 billion in the worst case scenario of "zero relations", Turkish Deputy Prime Minister said Monday.

Moscow has imposed a series of economic sanctions against Ankara after Turkish fighter jets shot down a Russian jet on the Syrian border on November 24, sparking the biggest crisis between the two countries since the Cold War.

"In the worst-case scenario, which is zero relations with Russia, we are talking about a loss of nine billion dollars (8.3 billion euros)," Mehmet Simsek, the deputy prime minister in charge of the economy, told private NTV television.