Speaking in Paris at the sideline of the UN climate summit, Mr Putin says the downing of the Russian warplane is a huge mistake.
He accused Ankara to shoot down the plane to protect its delivery track of oil with IS militants in Syria.
"We have now received additional information proving that, unfortunately, huge amounts of oil produced in oil fields controlled by IS and other terrorist organisations flows to the Turkish territory."
Turkey has been denying such accusation and is a part of the US-led coalition striking the militants group.
However Mr Putin also takes his time to question the viability of forming a broad