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. Last Updated: 07/27/2016

Klebanov Affirms Plan to Lift Kursk

The government Monday reiterated its intention to lift the sunken Kursk nuclear submarine later this year despite reported funding troubles.

Deputy Prime Minister Ilya Klebanov said the Cabinet would soon issue a formal order authorizing the salvage mission. The Kursk sank Aug. 12 during naval exercises in the Barents Sea, killing all 118 men aboard.

Click here to read our Special Report on the Kursk Tragedy.

"Neither the president nor the government has revised an earlier decision to raise the Kursk this summer," Klebanov said Monday, according to Interfax and Itar-Tass.

The government is supposed to pay part of the costs, estimated at $70 million, with the Brussels-based Kursk Foundation paying the rest.

The government hasn’t determined the cause of the disaster.

The navy angrily dismissed a report in Britain’s Times newspaper Monday that the vessel was sunk by a stray Russian missile during maneuvers.

"It’s a pure invention, which is not even worth a comment," said navy chief spokesman Captain Igor Dygalo.