Russian manufacturer Uralvagonzavod will supply Iran with 5,000 freight wagons, marking the start of Russian exports to the country after the removal of anti-Tehran sanctions, a newspaper reported Wednesday.

MOSCOW (Sputnik) — According to the Kommersant, Russia's state development bank Vnesheconombank (VEB) will provide an 11.2-billion-rubles ($140-million) loan to Uralvagonzavod for the matter.

The cars will be developed on the technical task of the Iranian Railways, the paper reported. The deliveries are expected to begin before the end of 2016.

The agreement reportedly comes as part of the VEB’s plans to subsidize the export contracts for the supply of 15 thousand rail cars of different types to Iran, Azerbaijan, Kazakhstan, Egypt and Cuba.

Iran emerged out of international isolation in January, after it was found in compliance with last summer's nuclear agreement, paving way to the termination of EU, UN and partial US sanctions.

Later in January, Iranian Ambassador to Russia Mehdi Sanaei said that Tehran expected that joint Russian-Iranian projects initiated last year will be implemented in 2016. The transport projects discussed between the sides involve large Russian companies and are altogether worth over $25 billion.
By Sputnik