"In the very near future there are plans to establish production in foreign countries, which will satisfy the demand from more and more countries," Kremlin spokesman Dmitry Peskov told reporters, AFP reported.
The comments come a day after The Lancet medical journal published results showing Sputnik V -- named after the Soviet-era satellite -- to be safe and 91.6 percent effective, allaying concerns over transparency.
Russia registered the vaccine in August months ahead of Western competitors but before large-scale clinical trials, leaving many experts wary.
Its developers later said the vaccine is over 90 percent effective and Russia began inoculating its citizens with the jab in December.
Sputnik V has been approved in more than 15 countries, including several ex-Soviet republics but also Argentina, Tunisia and Pakistan.
The Russian Direct Investment Fund (RDIF), which helped finance Sputnik V, has said that more than 2 million people have been inoculated with the jab around the world.
RDIF applied for registration of Sputnik V in the European Union last month and German Chancellor Angela Merkel has expressed openness to its use once the jab receives the regulatory nod.