Russia could offer debt-ridden Greece controversial loans and discounts on supplies of natural gas in exchange for the country’s “assets”, according to reports in Moscow.

Alexis Tsipras, Greece’s prime minister, is due to arrive in the city on Tuesday and will meet Vladimir Putin, Russia’s president, on Wednesday.

Athens overtures to Moscow have raised fears the Leftist government is pivoting to the east in search of alternatives sources of finance as it bids to avoid bankruptcy. Ahead of his visit, Mr Tsipras condemned economic sanctions on Moscow as “a road to nowhere”.

Greece’s dalliance with the Kremlin has also attracted criticism for potentially undermining the EU’s united front against Russia’s military intervention in Ukraine.

Martin Schulz, the president of the European Parliament, said on Saturday that it would be “unacceptable” if Mr Tsipras “jeopardised Europe’s common policy on Russia” in return for Kremlin aid.

But Kommersant newspaper quoted an anonymous Russian government source on Tuesday saying that lines of credit were on the table.