ST. PETERSBURG, June 2. /TASS/. An agreement for television broadcasting of 2017 Confederations Cup and 2018 World Cup matches in Russia has been reached with world’s football governing body FIFA, Tina Kandelaki, the general producer of national sports channel Match-TV, said on Friday.

"The agreement has been reached and you will all soon find out abot the details," Kandelaki said speaking at the 2017 St. Petersburg Economic Forum (SPIEF-2017). "Match-TV will be broadcasting the matches of the (FIFA 2018) World Cup and the (FIFA 2017) Confederations Cup."

"Fans will have a full access to developments around the Russian national football team," she said. "The negotiations took some time, but this is a standard process."

A conglomerate of state-owned Russia’s Channel One and VGTRK, and Match-TV (owned by Gazprom-Media), earlier refused buying the broadcasting rights for the 2018 FIFA World Cup and the 2017 Confederations Cup at $120 million.

The price was nearly four times higher than the $32 million that the Russian channels paid for the broadcasting rights of the 2014 FIFA World Cup.

Russia is currently in full-swing preparations for the global football tournaments after the country clinched the bid, following the final vote held in Guatemala on December 4, 2010 at the FIFA Congress. The victory came following a tight race against the bids from England, Portugal and Spain, in addition to a joint bid on behalf of Belgium and the Netherlands.