A London law firm is preparing a multimillion-pound class action against Russian president Vladimir Putin for his alleged involvement in the shooting down of the Malaysian Airlines MH17, carrying 298 passengers.

The Sunday Telegraph reported that lawyers from McCue & Partners flew to Ukraine to discuss how to bring forth the case and where it should be filed.

The class action through the American courts is expected to involve senior Russian commanders and politicians close to Putin.

"There has been talk of civil suits against Malaysia Airlines, but those immediately responsible are not only the separatists who are alleged to have fired the rocket at Flight MH17, causing the death of hundreds of innocent victims, but those, be they states, individuals or other entities, who provided them with financial and material support and the means to do so," the law firm said in a statement to the daily.

"Our team is presently liaising and working with partners in Ukraine and the US on whether, apart from civil suits against the airline, legal action can be brought against the perpetrators on the victims' behalf."

The case is expected to highlight Russia's alleged role in stoking conflict in the eastern Ukraine, the daily said.

MH17 was en route to Kuala Lumpur from Amsterdam when it was shot down on July 17.

Pro-Russian rebels were accused of shooting down the plane, mistaking the plane for a military aircraft.