S-300 V missile system
S-300 V missile system iStock

Russia received $1 billion in payment for the S-300 surface-to-air missile system, Kan reported.

According to Kan 11, Syria transferred the payment to Russian banks several years ago, but due to Israel's pressure to freeze the deal, the money was not officially transferred to Russia.

With Russia's transfer of the S-300 missile system to Syria, the money will become available for Russian use, a source told Kan. An additional diplomatic source admitted that Syria's receipt of the missile system will "challenge Israel."

"This is not a simple challenge for the country and we're dealing with it in various ways, not necessarily by preventing the transfer," the source said.

Russia announced earlier this week it would upgrade Syria’s anti-air defense network and send the S-300 system there, following the downing of a Russian military aircraft in Syrian airspace last week.

On Friday, Russian Foreign Minister Sergei Lavrov confirmed that delivery of the advanced missile system had begun.