Russian President Putin says his decision to renew a contract to deliver S-300 missile defence systems to Tehran reflects progress in nuclear talks.  

During his annual televised call-in show, Russian President Vladimir Putin said that Iran has shown sufficient flexibility in efforts to reach a nuclear accord prompting Moscow to renew a contract to deliver a S-300 missile defense system to Tehran. 

"Actually, all of the participants of this process have declared that the agreement has already been reached. It is only a question of the technical details that must be finalized by June this year."

He dismisses concerns that that Russia is ignoring sanctions. 

"If some people are concerned that we started canceling sanctions, then apparently our colleagues don't know that supplies of these types of systems are not included in the U.N. sanctions list. We paused carrying out this contract exclusively in a one-sided way. And, with the Iranian nuclear deal on track - and that is obviously positive - we do not see any reason - I want to stress it from our side - to continue to keep the ban."

Putin added that Russia would still work "as one" with its partners in the U.N. on Iran, and that deliveries of the defense system would work as a deterrent in the Middle East.