"It is one of the options in the development of events," Andriy Paruby, secretary of the National security and Defence Council was quoted as saying by Interfax, replying to a journalist's question on whether a state of emergency might be introduced.
But he said, even if this did occur, it would not mean deploying the army and existing security units would still have to handle the situation.
"So we are looking for other more effective ways of localizing the situation on the Crimean peninsula," he said.
According to Ukrainian legislation, a state of emergency can be introduced by parliament for a period of up to two months.
Deposed Ukrainian president Viktor Yanukovych on Friday said that the standoff in Crimea was a "natural reaction" to the "bandit-like" takeover of power by the new authorities in Ukraine.
Speaking at a news conference in Russia, he said he still saw himself as the Ukrainian president and as such believed that Crimea must remain part of Ukraine.
NJF/NJF