Rosneft, the state-own Russian oil giant, has asked the government for 1.5 billion roubles (£25bn) as its feels the effect of Western sanctions over Russia's role in the Ukraine crisis.
The Vedomosti newspaper reported that the plan was for the state to give the aid via the purchase of Rosneft bonds by its National Wealth Fund, citing government sources and a letter from Prime Minister Dmitry Medvedev asking officials to analyse the idea.
Rosneft has been locked out of the credit markets by a US ban on credits and loans with a maturity longer than 90 days.
The state oil giant has net debt of $44.5bn (£27bn), mainly arising from its $54bn acquisition of oil company TNK-BP in 2013 - a deal which saw BP sell its stake in the joint venture and take a holding in Rosneft.
Vedomosti reported that there are insufficient funds in the National Wealth Fund to finance the injection, as it has already been assigned to other projects.
Rosneft declined to comment.
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