The country's Sports Minister Vitaly Mutko, who is also head of Russia's football governing body, confirmed that they would not bid for 2016, an event Scotland and Wales are interested in jointly hosting.

 

He said: "Euro 2012 will take place in Eastern Europe - in Poland and Ukraine.

 

"Who will let us hold the next one in the same region?

 

"As for the 2018 World Cup, we will consider this.

 

"I wouldn't like to force events - the world economic situation is complicated and it requires a lot of money to organize such a meaningful event."

 

Russia are considered by many experts as potentially strong outsiders to host the World Cup if they bid as their economy is predicted to be the fastest growing in Europe.

 

Russia has never hosted a major international football tournament but Sochi has already won its bid to stage the 2014 Winter Olympics.

 

But the race to host the 2018 World Cup is set to be the most competitive in the tournament's history with England, Australia and a joint Netherlands-Belgium bid all having declared their intention to be contenders.

 

Other candidates are expected to include Qatar, Mexico, China, the United States and Spain.

 

A decision is due to be announced by FIFA's ruling Executive Committee in December 2010.