MOSCOW - Renault, a 25-percent shareholder in Russian carmaker Avtovaz, is ready to invest in the ailing auto giant, Deputy Prime Minister Igor Shuvalov said on Tuesday.

"The most important thing is that Renault has confirmed strategic interest in the development of Avtovaz," said Shuvalov.

"Renault is ready to invest in Avotvaz," he added, without giving further details.

Prime Minister Vladimir Putin warned Renault last week that its stake in Avtovaz could be diluted unless it provided help for Avtovaz, which has already announced plans to cut a quarter of its workforce.