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The new agreement extends the presence of Russia’s Black Sea Fleet on Ukrainian territory for 25 more years, with an option of an additional 5-year extension after the term expires, if neither party chooses to terminate the agreement.

Dmitry Medvedev and Ukrainian President Viktor Yanukovych also oversaw the signing of agreements on the volumes and terms of Russian gas transit via Ukraine, and on terms of [Russian] gas sales [to Ukraine] through to 2019.

Mr Medvedev said that these agreements offer solutions to two very important issues at the foundation of the strategic relations between Russia and Ukraine, relations that have stood the test of time, relations that are based on brotherhood and friendship, and pursue the goals of giving the two countries’ peoples a better life and getting their economies developing in the right direction.

President Medvedev called the unscheduled meeting with his Ukrainian counterpart very important and noted the need to mend the gap in contacts at all levels between the two countries that had formed over the last years.

The two leaders pledged to put Russian-Ukrainian relations back on a strategic track.