It added that it would cost less than $10 a dose in international markets.
The Russian Direct Investment Fund, RDIF, on Tuesday announced the price tag for its near-ready vaccine at $10 globally, The Washington Post reported.
Russia said its COVID-19 vaccine candidate Sputnik V has an efficacy over 95 per cent.
The Sputnik V vaccine candidate, named after Russia’s first satellite, became the first vaccine in the world to be registered in August.
Russia’s decision was controversial as the vaccine had not been thoroughly tested at the time, though the candidate is now undergoing Phase 3 testing with around 40,000 volunteer participants.
Last week, American vaccine maker Pfizer – which has an efficacy of over 95 percent – filed for Emergency Use Authorisation (EUA) from the Food and Drug Administration (FDA), and a similar viable candidate from Moderna is slated to be submitted for approval next month.
RDIF said the vaccine would be free for Russians, and the rollout of dosages would start in 2021. For anyone outside the country, the two-shot dose will cost around $20.
Russian officials also claimed its vaccine candidate has greater efficacy than the Oxford/AstraZeneca vaccine due to the country’s proprietary technology, which it offered to share with British vaccine developers.
Production of the Sputnik V vaccine will commence in Hungary, Brazil, South Korea, India and China.