Anna Feschenko, aged 17, was allegedly offered the cash deal by an agency who also offered her a VIP holiday to the Middle East.
She has been reported missing by her family after she did not return, and she is believed to have remained in Dubai to work as an escort in a house with other young women.
Police are investigating as she is still a minor.
According to MetroUK,a friend, aged 19, said she went with Anna on the holiday but did not know what she had planned.
She said that Anna had told her that she had won a two-day trip to the Persian Gulf resort city as a prize in a beauty pageant at the end of August.
But after two days of sunbathing, Anna allegedly revealed she had come to Dubai to sell her virginity.
The two argued and her friend Yekaterina ended up packing her bag and flying back to Moscow alone.
Karina, another friend that travelled with the pair, claims that Anna wanted the money to support herself through university.
|Yekaterina K. on the left, Karina on the right|
Her mother Olga Feschenko reported her missing to police although she is now back in touch with her, albeit only via text.
Mrs Feschenko said her daughter claims to have bought a ticket to fly home but had failed to send her a copy as proof.
The teenager was due to start university this September.
Her parents say they have agreed to pay her fees but will not do so until she comes home.