Former Russian President Dmitry Medvedev called the above action "unforgivable" - RT reported.
The Ursa Major, owned by Russian company Oboronlogistics, sank between Spanish and French waters on December 23. The company said the ship was severely damaged after three consecutive explosions, which was described as a terrorist attack.
Spanish rescue ships rescued 14 crew members, while two others remained missing.
However, Oboronlogistics accused the Oslo Carrier 3, which was flying a Norwegian flag and was near the scene, of refusing to rescue the Russian sailors.
The lifeboat of the Russian crew advanced towards Oslo Carrier 3, but was refused admission due to a certain ban, said a representative of Oboronlogistics.
Oboronlogistics criticized the action as a blatant violation of international maritime law, which stipulates that ships must assist people in distress at sea, unless it endangers them.
The Oslo Carrier 3 ship operator, Bulkship Management AS in Oslo, has not yet commented on the allegations.
Former Russian President Dmitry Medvedev, now deputy head of the Russian Security Council, expressed his outrage at the incident. He said this was part of Europe's hostile policy towards Russia, calling for " punishing Europe by all means, from politics to economics".
Mr Medvedev stressed that the refusal to rescue Russian sailors was unforgivable and would only increase hostility between Russia and the West.
The Ursa Major, 142 meters long and built in 2009, is one of Russia's largest cargo ships with a displacement of about 12,600 tons. At the time of the accident, the ship was on a journey from St. Petersburg. Petersburg to Vladivostok, bringing specialized equipment used in port construction.
The incident comes amid rising geopolitical tensions surrounding the Ukrainian conflict, with Moscow accusing Kiev of carrying out attacks targeting Russian ships in the Black Sea.
