diff --git a/Misc/NEWS.d/next/Library/2026-06-22-09-41-31.gh-issue-151763.OOM0014.rst b/Misc/NEWS.d/next/Library/2026-06-22-09-41-31.gh-issue-151763.OOM0014.rst
new file mode 100644
index 00000000000000..723aafb9f9202e
--- /dev/null
+++ b/Misc/NEWS.d/next/Library/2026-06-22-09-41-31.gh-issue-151763.OOM0014.rst
@@ -0,0 +1,3 @@
+Fix a crash in ``_interpchannels._channel_id()`` when memory allocation
+fails while looking up module state. The function now correctly propagates
+``MemoryError``.
diff --git a/Modules/_interpchannelsmodule.c b/Modules/_interpchannelsmodule.c
index 3614890757d69d..1d03c9d3197c4d 100644
--- a/Modules/_interpchannelsmodule.c
+++ b/Modules/_interpchannelsmodule.c
@@ -3484,6 +3484,9 @@ channelsmod__channel_id(PyObject *self, PyObject *args, PyObject *kwds)
     PyTypeObject *cls = state->ChannelIDType;
 
     PyObject *mod = get_module_from_owned_type(cls);
+    if (mod == NULL) {
+        return NULL;
+    }
     assert(mod == self);
     Py_DECREF(mod);