The Court of Arbitration for Sport has rejected Russia's appeal of a ban on its track and field athletes at the 2016 Olympic Games in Brazil over allegations of an elaborate doping scheme.
The Kremlin has said it "deeply regrets" Thursday's decision, and a spokesman said they were looking at the possibility of a meeting between Putin and the Russian athletes.
Russian sports minister Vitaly Mutko has argued that there is "no legal basis" for this ruling.
The World Anti-Doping Agency recently released an independent report alleging widespread doping by Russian athletes at the 2014 Winter Olympics in Sochi.
So far, only Russian track and field athletes have been barred from the Summer Games in Brazil.