Turkish President Recep Tayyip Erdogan on Thursday labelled as "immoral" Russian claims that his family was involved in alleged oil dealings with Islamic State jihadists.

"The immoral side of this issue is involving my family in the affair," Erdogan said in a televised speech in Ankara after the Russian defence ministry accused him and his family of involvement in illegal oil trade with IS jihadists after Ankara's downing of one of Moscow's warplanes last month.