A top Russian official says Moscow is preparing to provide Iran with two loans with a total amount of €2.5 billion in the near future.  

Russia's Deputy Finance Minister Sergey Storchak has been quoted as saying by the country’s media that the Finance Ministry expects to get the cabinet's permission on granting loans to Iran in two weeks.

"The intrastate procedures concerning the two loans to Iran are about to be completed and we will finish them soon," Storchak said. "This is probably a matter of two weeks.”

Russia’s President Vladimir Putin said in November that Moscow is ready to provide a $5 billion state loan to Tehran to promote industrial cooperation.

Another ‎€2 billion export loan will be granted to Iran by Russian state lender Vnesheconombank, the country’s media reported. 

During the visit to Tehran by the Russian president, the two countries selected 35 priority projects in energy, port facilities, and railway electrification to receive loans from Moscow.

In April, Storchak had emphasized that the legal disagreements on Russia's loan to Iran had been removed and domestic agreements between different agencies in Russia would be reached in the near future.

He had also emphasized that these two loans are considered as pilot and are not linked to the loan of $5 billion that was announced by Russia for Iran earlier.

Russia’s Industry and Trade Minister Denis Manturov said last December that the country’s loan for Iran would be provided under the Iranian government’s guarantee.

“We are talking about granting a state loan, naturally under the Iranian government’s guarantee…I think that if all the formalities can be agreed upon in the first quarter of 2016, then next year part of it may be provided,” he was quoted as saying by the Russian media.