Tensions with Russia could cost the Turkish economy $9 billion in the worst case scenario of "zero relations," Turkey's Deputy Prime Minister Mehmet Simset told the private NTV television station today.
The current tensions are likely to cut 0.3 to 0.4 percent off Turkey's gross domestic product (GDP), Simset said, according to AFP.
Russia has imposed economic sanctions on Turkey in the wake of the November 24 downing by Turkish F-16s of a Russian war plane near the Syrian border.
A terror suspect who allegedly stabbed a 56-year-old man in a London subway station on December 5 has been remanded in custody this morning, the Courtnews.co.uk website reports.
Muhaydin Mire, 29, has been charged with attempted murder.
The suspect in a purported terrorist stabbing in a London subway station had "IS images on his phone," a court in London has heard, according to AFP.
Muhaydin Mire, 29, of Leytonstone, is appearing in custody at Westminster Magistrates Court today accused of the attempted murder of a 56-year-old man on Saturday.
Turkey has pulled 350 troops back from the Turkey-Iraq border, Turkish daily Hurriyet is reporting.
Iraq threatened yesterday that it would go to the United Nations if Ankara did not withdraw soldiers it sent to areas near the northern Iraqi city of Mosul.
The 350 troops are waiting on the border and will be sent to Iraq if Ankara and Baghdad come to an agreement on the matter, Hurriyet reports.
Cavusoglu Says Turkey Has Duty To Protects Its Soldiers In Iraq
Turkey has said that it has a duty to protect its soldiers around the IS-controlled Iraqi city of Mosul and that they were there on a training mission, Reuters reports.
Iraq yesterday threatened to go to the United Nations if Turkey fails to withdraw its forces, which it sent last week to a camp in the Bashiqa region of northern Iraq.
Baghdad says the move was made without consultation. But Turkish Foreign Minister Mevlut Cavusoglu said that the Iraqi government had made repeated requests for more active Turkish support against IS.
"It is our duty to provide security for our soldiers providing training there," Reuters quoted Cavusoglu as saying in an interview on Turkey's Kanal 24 television.
"Everybody is present in Iraq ... The goal of all of them is clear. Train-and-equip advisory support is being provided. Our presence there is not a secret," he added.
Italiy is to host a meeting in Rome next month of nations that are united against the IS group, Italian Foreign Minister Paolo Gentiloni has said.
Italian Prime Minister Matteo Renzi said yesterday that Italy would not join the U.S.-led coalition in attacking IS targets in Syria.
Iran has arrested 53 people for running websites supporting the IS group, the Tasnim News Agency is reporting, according to Reuters.
Iran's cyberpolice chief Kamal Hadianfar said most of those arrested had been "in provinces near border areas."
The Iranian Students News Agency (ISNA) said the arrests had taken place over the past 20 months.
Putin's spokesman Dmitry Peskov has also responded to a controversial opinion piece by London Mayor Boris Johnson in The Daily Telegraph this morning, calling for the United Kingdom and United States to "make a deal with the devil" and work with Russia and Syrian President Bashar al-Assad against IS in Syria.
"No deals are needed to create a coalition," Peskov said, upon being asked whether Putin would be ready to make such a deal.
"And a coalition is not founded on the basis of a deal; a coalition is created on the basis of an understanding of the lack of an alternative of other ways to fight against terrorism. But nevertheless, such a readiness for cooperation as we hope London [has] -- that completely corresponds with what I spoke about earlier, with the consistent position Russia has taken."
The fight against IS is only possible if all countries coordinate, the spokesman for Russia's President Putin told reporters this morning in response to U.S. President Obama's speech last night on IS and terrorism.
In his daily press conference, Dmitry Peskov said that all countries fighting against IS should unite into a single coalition.
"We believe that international terrorism and in this case a phenomenon like IS, which actually occupies territory in several states, in this case we're talking about Syria and Iraq, of course, presents an equal threat to us all, to all countries," Peskov said.
"Both President Putin and Russian officials at various levels have unanimously emphasized our belief that an effective fight against this dangerous phenomenon can only be possible with a single coalition and full coordination of joint actions."
Russia's Life News, which has ties to the security services, is continuing with reports on "Jihadi Tolik," the nickname given by the Russian media to Anatoly Zemlyanka, the Russian IS militant who appeared in a video last week beheading another Russian national.
Life News has spoken with a woman in Zemlyanka's hometown of Noyabrsk, who claims to be Zemlyanka's mother.
The woman, Irina B., said that she has kept in touch with her son, who sends her messages from various phone numbers.
"He doesn't phone, he just writes text messages, usually with just two or three words, 'Mom, everything's OK, I'm alive'," Irina said.
Irina said that she only found out her son was in Syria after agents from Russia's Federal Security Service (FSB) visited her. Before that, she believed Zemlyanka was in Egypt.