The most recent rent agreement is in force through 2062
The Government of Finland is going to reject or suspend capital repair of the Saimaa Canal worth about a hundred million euros, RIA Novosti refers to Helsingin Sanomat (HS).
The Saimaa Canal connects lake Saimaa in Finland with the Baltic Sea. It is 57.3 kilometers long including the sea fairway. 23.3 kilometers of the Saimaa Canal is within the territory of Finland with 34 km in the territory of Russia Finland rents 19.6 km of the Russian part of the canal. The most recent agreement entered into force in 2012 and expires in 2063.
Russian media earlier cited Dmitry Novikov, deputy chair of the State Duma Committee on International Affairs, as saying that Russia may terminate Saimaa canal contract if Finland joins NATO.
“The Government is going to reject or suspend capital repair of the Saimaa Canal,” says HS adding that no final decision has been made yet. The renovation would have cost EUR 95 million while the decision not to conduct the repair will contribute to implementation of the Government’s austerity programme.
According to Helsingin Sanomat, the decision should be attributed to sanctions amid which the canal is going to be used less in the coming years.