The Jerusalem Post said Monday that Israeli officials were looking into reports that Moscow and Tehran were finalizing the sale of 250 advanced Sukhoi Su-30 long-range fighters, which could give Iran power projection over the entire region.

Israeli officials said the reported deal flew in the face of Russia's insistence on selling "defensive" weapons to Iran since the Su-30 was capable of being refueled in flight, extending its range by thousands of miles. The Su-30, which is currently flown by the Indian air force, can be used to attack ground targets and air-defense installations as well as dogfight with other warplanes.

The report came at the same time U.S. Secretary of State Condoleezza Rice formally announced a massive plan to bolster the military capabilities of Israel, Egypt and Saudi Arabia. Rice said the 10-year plans included $30 billion for Israel, $13 billion for Egypt and an unspecified amount for the Saudis.

Rice said in a statement that the moves were being made to maintain stability in the strategic region against "the negative influences of al-Qaida, Hezbollah, Syria, and Iran."