Published by Global Banking & Finance Review®
Posted on February 22, 2026
2 min readLast updated: April 2, 2026
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FT says Iran agreed a €500m deal with Russia for 500 Verba launchers and 2,500 9M336 missiles, delivered 2027–2029, signaling closer Moscow–Tehran defense cooperation.
Feb 22 (Reuters) - Iran agreed a secret 500 million euro ($589 million) arms deal with Russia to acquire thousands of advanced shoulder-fired missiles, the Financial Times reported on Sunday.
The agreement, signed in Moscow in December, commits Russia to deliver 500 man-portable "Verba" launch units and 2,500 "9M336" missiles over three years, the FT said, citing leaked Russian documents seen by the FT and several people familiar with the deal.
Reuters could not immediately verify the report.
Under the deal the deliveries are scheduled in three tranches, running from 2027 through 2029, the FT said.
The deal was negotiated between Russian state arms exporter Rosoboronexport and the Moscow representative of Iran's Ministry of Defense and Armed Forces Logistics (MODAFL), the FT said.
Tehran formally requested the systems last July, according to a contract seen by the FT. In June last year, U.S. forces struck Iran's three main nuclear sites as the country joined Israel's military campaign against Iran.
President Donald Trump said Iran's key nuclear facilities were destroyed in the attack. However, according to a preliminary U.S. intelligence assessment at the time, the U.S. airstrikes did not destroy Iran's nuclear capability and only set it back by a few months.
Iranian officials have repeatedly said Tehran had recovered from the damage incurred during the war and that its capabilities are better than ever.
Russia has a strategic partnership treaty with Iran, although it does not include a mutual defence clause. Earlier in February, a Russian naval corvette conducted manoeuvres with the Iranian navy in the Gulf of Oman this week, according to Russia's Defence Ministry.
($1 = 0.8489 euros)
(Reporting by Gursimran Kaur in Bengaluru, Editing by William Maclean)
The Financial Times reports Iran agreed a secret €500m deal with Russia to buy Verba man-portable air defense systems and 9M336 missiles.
Iran would receive 500 Verba launch units and 2,500 9M336 missiles, with deliveries scheduled in three tranches from 2027 to 2029.
It heightens geopolitical risk, can influence defense stocks and sanction dynamics, and may affect oil risk premia given activity near the Strait of Hormuz.
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