A Russian government spokesman said Wednesday there was no truth about clams oil company Rosneft was looking for protection against Western sanctions.

State-controlled Rosneft said it would work to protect its reputation after a report in Russian business daily Kommersant said it sent proposals to President Vladimir Putin to restrict some of its operations in an effort to protect itself from sanctions.

"This is completely untrue," Kremlin spokesman Dmitry Peskov said.

Rosneft said the claims were aimed at provoking more action from Western governments frustrated with the Kremlin's stance on upheavals in post-Soviet Ukraine. The company threatened to file suit against Kommersant for their publication.

Rosneft is the target of Western economic sanctions imposed in response to Russian policies in eastern Ukraine. Igor Sechin, its chief executive officer, is also the target of punitive economic measures.

Sechin in August asked the Kremlin to use a national welfare fund to support its growing debt. The company's total production, meanwhile, is down to its lowest level in more than a year.