HELSINKI, September 11. The Finnish Ministry of Transport and Communications has announced the suspension of the work of the Advisory Board with Russia on the operation of the Saimaa Canal.

"The work of the Saimaa Canal Advisory Board has been suspended for the time being," the ministry said in a statement. It is specified that the decision is temporary.

"Should the international situation change and vessel traffic in the Saimaa Canal recover, the need for relaunching the work of the Saimaa Canal Advisory Board can be assessed," the ministry added.

The main activities of the Advisory Board have mainly focused on determining the dates of the beginning and end of navigation along the Saimaa Canal, exchange of information on the situation in the Saimaa region.

An agreement on the lease of a part of the canal passing through the territory of Russia was concluded between Finland and the USSR back in 1968. The total length of the canal is 57.3 km, of which 23.3 km belong to Finland and 34 km to Russia.

The annual rent that Finland pays for the use of the Saimaa Canal is 1.2 mln euros. The entire canal and the adjacent highway, including a section on the territory of Russia, are financed from the Finnish budget, although the exact amount of expenses has not been disclosed.

The Saimaa Canal Lease Agreement is an international treaty approved by the Parliaments of Finland and Russia and is valid until 2060. The Finnish Ministry of Transport and Communications stated that the EU sanctions against Russia in connection with the situation in Ukraine do not prevent the vessel traffic on the Saimaa Canal. At the same time, since February 2022, companies have refused to insure ships and cargo moving through the Saimaa Canal, resulting in the transportation artery losing its importance.