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. Last Updated: 07/27/2016

Russia to Lease Port

MOSCOW ) -- Russian Prime Minister Viktor Chernomyrdin said Saturday that Russia intends to lease the Black Sea fleet's port at Sevastopol from Ukraine for a period of 20 years, Interfax reported.

It quoted him as saying during a television interview that terms of the lease would be detailed in documents due to be signed during a visit to Kiev scheduled next month.

Ukrainian President Leonid Kuchma refused to confirm the duration of the lease period, but said it would be long enough to allow Russia to build a naval base for its Black Sea fleet elsewhere, according to Interfax. He added that 85 percent of fleet's vessels would be handed over to Russia.