Carlos Sainz Jr. is relishing his move up to Renault's works Formula 1 team for the 2018 season from Toro Rosso, believing it to be a "great step" for his racing career.

Renault announced on Friday in Singapore it had signed Sainz for 2018 on loan from Red Bull, with the Spaniard set to partner Nico Hulkenberg next year.

Having been forced to remain coy on speculation about a move to Renault just 24 hours earlier, Sainz was delighted to get the news out in the open.

“I'm very enthusiastic. For me it’s a great step in my career," Sainz said.

"I want to thank Renault for trusting in me. This comes from a really long way back in 2016 when they first spotted me and they wanted me to go to the team.

"To finally make it happen and to have everyone happy - Red Bull, Renault, Toro Rosso - with the deal is a great achievement for me.”

Despite having been on Renault's shortlist for over a year, Sainz said the deal accelerated only in the last few weeks as part of the wider set of talks including McLaren and Honda.

"I knew I had the probability, but a big probability just in the last month when everything started to happen as you might know," Sainz said.

"So it has been on my radar for sure for a long time but finally this last month everything has developed, everyone has agreed to what I think is a positive deal for everyone involved.

"I think it’s something everyone needs to be very happy about.”

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