Medvedev said at a news conference with German Chancellor Angela Merkel that "agreement on the sanctions exists," several Russian news agencies reported. The state RIA Novosti news agency later reported that Medvedev said that "practically" agreement exists.
"But nobody wants sanctions. We hope the voice of the international community will be heard by the Iranian leadership," Medvedev was quoted as saying.
Merkel said sanctions could be passed by the United Nations Security Council "in the near future."
"That is a joint position," she said, praising the council for arriving at a concensus on the issue in its recent work.
Russia's president arrived Friday for a two-day visit to eastern Germany to discuss a range of issues with Merkel.
Russia has been traditionally opposed to sanctions for Iran, a longtime trade partner, but in recent months officials have shown less patience with Tehran's refusal to clarify its nuclear agenda.
The West is against an expansion of nuclear nations and suspects Iran is enriching uranium to build a nuclear warhead. Tehran denies this and insists on its right to a peaceful nuclear power program, but has frustrated the West over its failure to prove it.