French retail giant Carrefour has remained silent on reports that it is planning to open stores in Russia's Krasnodar region.

According to a report in Russian business daily Vedomosti, Carrefour CEO Jose Luis Duran will sign a store opening agreement with regional governor Alexander Tkachev at an economic forum in Sochi on 18-19 September.

Citing Maxim Filandrov, an aide to Carrefour's general director for Russia, the paper said Carrefour plans to open its first two Russian stores in Moscow and Krasnodar between November and January.

Vedomosti reported that Carrefour will commit to investing US$100m in the region over the next five years, citing an unidentified official of the regional administration.

When contacted by just-food Carrefour declined to comment on the report. The group has however admitted that it is eyeing the Russian market, which it described as offering "considerable potential".