Russian President Vladimir Putin has approved the transfer of S-300 anti-aircraft missiles to Iran, according to the prestigious Russian daily newspaper Kommersant.

Russian President Vladimir Putin has approved the transfer of S-300 anti-aircraft missiles to Iran, according to the prestigious Russian daily newspaper Kommersant.

The newspaper reported on Wednesday that the Russian government will revive the transfer three years after it canceled the original transaction.

According to Kommersant, the Kremlin agreed to Tehran’s request to complete the transaction, which will net the Russian treasury $800 million.

In addition to the missile deal, Russia has also agreed to construct another nuclear reactor in Bushehr. According to the Kommersant report, the two sides are expected to finalize the details of the deal this coming Friday, when Putin is expected to meet his Iranian counterpart, Hassan Rouhani, in the central Asian republic of Kyrgyzstan.

The Russian-manufactured anti-aircraft batteries have been a source of concern to Israeli officials who fear that Iran's possession of them could have adverse strategic consequences.

Israeli officials believe that the missiles, which have a 200-kilometer range, would have the capacity to hit planes northern occupied Palestine. It would create a no-fly zone that would make it impossible for the Israeli air force to operate along the Syrian and Lebanese border.