"This was certainly an act of aggression against our country by Turkey, our neighbor and a member of the North Atlantic Treaty Organization."
"Military and diplomatic measures with regard to this crime have already been taken and more will be taken," Medvedev said during a government meeting on Thursday.
On Tuesday, a Russian Su-24 jet crashed in Syria. Russian President Vladimir Putin said that the plane was downed over Syrian territory by an air-to-air missile launched by a Turkish F-16 jet, and fell 4 kilometers (2.5 miles) from the Turkish border. Putin described the Turkish attack as a "stab in the back" carried out by "accomplices of terrorists."
Moscow's response measures against Ankara may affect financial operations, investment projects, as well as the work of Turkish companies in Russia, Medvedev said.
According to Medvedev, measures taken by Russia will be temporary and depend on the development of Moscow-Ankara relations and international situation.
"[The measures include] the suspension of the implementation of programs of economic cooperation, restrictions on financial transactions and on foreign trade transactions, changes to customs duties, measures in the tourism sector, to affect the tourism sphere, transportation, including transits."
The prime minister said that Russian authorities were considering the introduction of bans on Turkish companies' activities in the country.
According to him, the measures will be introduced in accordance with a 2006 law "designed for similar situations."
Speaking at the same meeting, Russia's Economic Development Minister Alexei Ulyukayev underscored that any possible measures introduced against Turkey by Russia would not contradict WTO norms.
Russian agricultural watchdog Rosselkhoznadzor has already announced health and sanitary claims against a Turkish company specializing in poultry production, while the Russian Foreign Ministry recommended tourists to avoid traveling to Turkey.