Which faction are you playing?
This can be a little dangerous if you need to fight them later.
I would surely not do it if I were Russia.
I supported Sweden in my Austrian campaign with tech and money. Some how they never managed to do anything. They even lost to Coreland. I had to wipe out Denmark to keep them in the game. I stopped supporting them and just gave them state gifts to keep them happy and defeated the enemies my self.
Any way I didn’t find it worth while to support nations that are too weak or those who may become too strong.
I don’t know if it is the game AI or just the faction AI but I have not found it beneficial for one reason or another.
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