With President Vladimir Putin's blessing, Boeing struck an $18 billion deal Friday with VSMPO-Avisma to supply titanium for its airplanes.

The agreement came exactly a week after the United States announced it had imposed sanctions on state arms trader Rosoboronexport, which is acquiring VSMPO-Avisma, and could help Boeing land a large planes order with Aeroflot.

The development should alleviate fears that the sanctions will harm U.S. companies' business in Russia.

As part of a 30-year deal, Boeing and VSMPO signed off Friday on a joint venture under which Boeing will purchase $18 billion-worth of VSMPO's titanium products.

Full Story