Russia could spend around 400 million euros on buying a helicopter carrier from NATO member France, with talks under way on what would be its first major foreign military purchase, local media reported on Tuesday.

Moscow is trying to re-equip its outdated Soviet-era military as part of a broader defence reform but has to date focused on buying hardware from its own arms industry, which remains one of the country's key export sectors.

Interfax, quoting unnamed sources in the Russian navy headquarters, confirmed earlier reports in the French media about Moscow's interest in buying a multi-purpose carrier.

"The possibility of buying a Mistral-class helicopter carrier was discussed at the naval show held in St. Petersburg in June," Interfax quoted a naval headquarters source as saying.

Quoting an unnamed senior officer in Russia's naval headquarters, RIA news agency said that such a deal with France could cost Moscow up to 400 million euros ($575.6 million).

"Such talks are being conducted at the level of experts," the officer told RIA. "In September we will prepare a report with our final conclusions for the defence ministry."

Citing its source, Interfax said a decision on such a large foreign purchase might be two to three years away and that no budget funds were currently available.

Kommersant newspaper quoted unnamed sources as saying such a deal was extremely likely.

President Dmitry Medvedev has set an ambitious deadline of 2020 for the radical modernisation of Russia's once formidable, but now fast rusting navy by 2020, using Russian shipbuilders.

These plans include the creation of Russia's first post-Soviet aircraft carrier -- an idea many analysts have said is overly ambitious considering the expertise lost during the break-up of the Soviet Union.