Boeing's business in Russia may lastly be taking off with a new multibillion-dollar agreement.

Boeing won a multibillion-dollar contract to build as numerous as 65 planes for a Russian state airline, beating off rival bids from Europe's Airbus and a Russian supplier. It will deliver 50 midrange planes with a choice for 15 more. Specifics of the planes to be purchased will be decided in the close to future, according to Russian Technologies.

The Boeing deal is especially important because Russia has pressured domestic carriers to buy Russian planes to revive the domestic aviation division. Andrew Somers, president and CEO of the American Chamber of Commerce in Russia, says the contract shows that excellent politics is good business. I think it's a large coup for Boeing, because it's not only Russian manufacturers but other foreign manufacturers, so Boeing won on this one. It reflects ongoing efforts to stimulate trade between the two countries.