Emerging markets expert Irwin Greenstein says two news stories circulating in Russia indicate Moscow is getting ready to buy up large amounts of distressed US assets. It could be a good time, too, for American investors to consider buying US stocks at bargain prices.

These stories have appeared in the Barents Observer and the Georgian Daily.

As reported, Moscow is ready to support domestic companies bidding on “crisis-ridden foreign enterprises.” The thinking is that Moscow could buy up US companies that would increase its competitive position in global markets. The top priority would be technology companies.

The money would come from a source only referred to as “reserves.” If our take on this is correct, the reserves in question would be Russia’s two oil wealth funds, which totaled $189.7 billion as of October 1, according to Reuters.

That latest number is some 8% higher than a month ago, Finance Ministry data showed. So although the Russian stock market takes a beating, its sovereign oil funds continue to grow.

Both the Barents Observer and the Georgian Daily quoted a high-ranking official who maintained that Russia now has the chance to more comprehensively integrate itself into world economy with the help of the expansion of Russian capital.

The official underscores that Russian authorities are ready to support the acquiring companies in their bid to scoop up foreign assets. He said that the issue has been discussed in the presidential administration over the last six months.

He also confirmed that the state could provide both financial and diplomatic aid — the latter probably more important than the financial part of the strategy given that tech companies are in their crosshairs.

The Russian government had been discussing the possibility of using government funds in this way for “about a half a year” – or well before the crisis broke here in the U.S. But now that share prices of shares in have fallen even further Moscow believes it can acquire a lot for its money.

There’s no doubt that Russia would encounter severe resistance in U.S. acquisitions. However, for our purposes, the Russian strategy serves as more of an indicator that this could be a good time for American investors to consider distressed stocks.