The FINANCIAL — According to RIA Novosti, Russia's president signed a federal law ratifying a maritime border treaty with Norway on March 31, the Kremlin press service said.
The treaty on the delineation of a disputed section of the border in the Varanger fjord area of the Barents Sea was signed in July 2007 and submitted to the Duma by President Vladimir Putin.
The previous agreement on the Varanger fjord, signed in 1957, applied to the inner part of the fjord, while the new agreement delimits the outer part.
The Federation Council, Russia's upper house of parliament, ratified the treaty on March 19.
Mikhail Margelov, the chairman of the upper house's international affairs committee, said that under the treaty, "Russia will receive an additional 26 kilometers of maritime territory."
Responding to a MP's question on whether the new treaty would help resolve sporadic fishing disputes in the area between Russia and Norway, Yuly Kvitsinsky, first deputy head of the Duma's International Affairs Committee, said the treaty does not cover fishing areas.
The agreement could lead to a final settlement on the delineation of the 155,000 sq km Norwegian-Russian disputed zone, considered likely to hold substantial oil and gas reserves. The Varanger fjord area falls outside this zone.
Norway and Russia have been negotiating the delineation of the disputed area since the 1970s.
The Varanger fjord in the county of Finnmark is the easternmost fjord in Norway. It is approximately 100 km long.
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