Vladimir Putin has said Greek Prime Minister Alexis Tsipras did not ask Russia for financial aid during talks between the two leaders in Moscow.
The Russian President did say that Russia would consider offering Greece loans for joint infrastructural projects, including a natural gas pipeline, although the BBC reports that analysts believe Russia’s financial problems would make any assistance limited.
During a joint press conference Mr Tsipras said Greece does not support sanctions imposed on Russia, saying that the actions by Western governments risked starting a new cold war. Speaking to Tass news agency on Tuesday Mr Tsipras called sanctions “a road to nowhere.”
Greece has so far failed to reach agreement with the EU and IMF on refinancing to manage its billions in debt and interest payments and there was speculation that the Prime Minister might seek help from Russia. The two countries had previously been strong trading partners prior to the EU sanctions on Russia’s energy industry.
Reuters reports that the possibility of a renewed relationship between the two has worried EU officials that Greece might break from the sanctions imposed on Russia.
A Greek official told Reuters however that this would not happen.
"We have not asked for financial aid," the official said.
"We want to solve our debt and financial issues... within the euro zone."
"Greece knows what to do within the EU framework but every country also has the sovereign right to look after and improve its bilateral relations," the official added.
The Guardian reports that Moscow sees Greece as a potential ally in Europe – where it has been running short of friends in recent years, particularly since Russia’s involvement in Crimea and the war in Ukraine. There are also reports that analysts see Greece’s actions as a way of playing both sides in the divide between Europe and Russia, and reminding the EU that they cannot take Greek support for granted.
Mr Putin said the two discussed "various ways of cooperating, including major projects in energy".
"Under these plans, we could provide loans for certain projects. This is not about aid but about financial cooperation in major projects," Mr Putin said.
