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

Russia's state development bank Vnesheconombank (VEB) will provide a loan of 11.2 bln rubles ($140 mln) to Uralvagonzavod to cover costs. The cars will be developed for use by Iranian Railways, Sputnik reported. The deliveries are expected to begin before the end of 2016.

The agreement reportedly comes as part of VEB’s plans to subsidize export contracts for the supply of 15,000 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 the way for the termination of EU, UN and partial US sanctions.

Later in January, Iranian Ambassador to Russia Mehdi Sanaei said that Tehran expected that the 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 worth over $25 billion altogether.