"A request has been made for a loan. Iceland's rigorous budget discipline is remarkable and we are positive about the request," Alexei Kudrin said, adding that talks had still to be held on the issue.
There was some confusion earlier in the day when Iceland's Central Bank announced Russia had agreed to grant the country a 4 billion-euro loan and Kudrin's deputy swiftly denied any deal had been discussed.
"There have neither been any official requests for a loan from Iceland, nor talks, nor decisions made on the issue," Russian Deputy Finance Minister Dmitry Pankin said, before Kudrin softened Russia's response.
According to the Icelandic Central Bank's statement, representatives from it and the government would finalize the agreement in Moscow.
The bank said the loan would significantly bolster Iceland's foreign exchange reserves, strengthening the stability of the exchange rate of the krona.
Icelandic authorities have recently taken a series of measures to stabilize the country's economy in the face of the unfolding global financial crisis.
The Associated Press reported Tuesday that Iceland's Central Bank moved to fix the exchange rate of the krona at 131 kronur to the euro for interbank business after the national currency lost about a quarter in its value against the euro.
The government has rushed through a legislation this week that has given it new powers to control the financial situation. The authorities put 100% guarantees on deposits, following the example of some other European countries, and have nationalized two of the country's three largest banks since last week as a measure to prevent the whole nation from turning into a bankrupt.
