French car maker Renault is ready to inject its technology into Russia's Avtovaz, in which it has invested, Les Echos newspaper reported on Friday, citing a company executive.

"I said it clearly to [Russian prime minister] Vladimir Putin: we want to remain a strategic partner of Avtovaz but we don't have cash to take part in its financial restructuring," Les Echos cited Christian Esteve as saying, according to Dow Jones.

"We can bring our technology and our know-how," he told the paper, adding: "Putin replied to me that he expected from us not cash but our know-how."