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Weapons of Mass Destruction (WMD)

Ukraine's Yanukovych signs Russian naval base deal into law

RIA Novosti

29/04/201012:18

KIEV, April 29 (RIA Novosti) - Ukrainian President Viktor Yanukovych has signed into law the deal extending the use of the Russian naval base in Crimea, deputy head of the presidential administration Anna German said on Thursday.

The agreement extending the lease on the Russian Navy base in the Ukrainian port of Sevastopol for 25 years after the current lease expires in 2017 has been ratified by the Russian and Ukrainian parliaments.

In return for the lease extension, which may be extended for an additional five years, Ukraine will receive a 30% discount on Russian natural gas that will be worth an estimated $40 billion over 10 years.

German said the Ukrainian president also signed the 2010 budget into law, which was only presented to the parliament once the government had secured the discount on Russian gas, valued at $3 billion this year.