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Dmitry Medvedev sent to State Duma for ratification lease agreement on Finland’s use of Russian section of Saimaa Canal

June 19, 2011

Dmitry Medvedev sent to the State Duma for ratification the Agreement between the Russian Federation and the Republic of Finland on Lease to Finland of the Russian Section of the Saimaa Canal and Adjoining Territory, and on Shipping through the Saimaa Canal, signed in Lappeenranta on May 27, 2010.

Considering the 50 years of positive experience in operating the Saimaa Canal, the agreement will ensure the canal’s continued operation as single complex under Finland’s management.

The agreement extends by another 50 years Finland’s lease of the Russian section of the canal and the adjoining area, makes the necessary changes to the leased territory’s makeup, and clarifies the parties’ rights and obligations, taking into consideration the cooperation between the two countries in the same area under the terms of the Agreement between the Union of Soviet Socialist Republics and the Republic of Finland on the Transfer and Lease of the Soviet Section of the Saimaa Canal and Maly Vysotsky Island to the Republic of Finland of September 27, 1962, which ceases to be in effect from the date the new agreement comes into force.

June 19, 2011