KIEV, Dec. 14 (Xinhua) -- Ukrainian President Viktor Yushchenko on Thursday reassured Moscow that it could use the base on the Crimea peninsula for Russia's Black Sea Fleet till 2017.

Ukraine's President Viktor Yushchenko speaks to reporters summing up the year in Ukrainian politics during a news conference in Kiev Dec. 14, 2006. (Xinhua/Reuters Photo) Photo Gallery >>>

    Ukraine upholds its stand on the legal basis of a treaty signed between the two ex-Soviet states. No political speculation will be allowed to undermine the interests of either side, the president told reporters.

    Yushchenko reiterated Kiev's commitment to the contract amid lingering issues that involve land development, assets and hydrological facilities being negotiated by the two sides. The two countries have set up a special committee to resolve the differences.

    Russia and Ukraine signed an accord in 1997 on dividing up the Soviet Black Sea Fleet. Under the deal, Russia leases the Sevastopol port on the Crimea peninsula at an annual expense of 98 million U.S. dollars.

    Pushing for an extension of the lease, Russia President Vladimir Putin said weeks ago that Moscow was ready to start negotiations with Ukraine on the issue.

    Ukrainian Prime Minister Viktor Yanukovitch has said that his country will consider Russia's request for an extension of the lease in view of the Ukrainian-Russian political and economic ties. He said Kiev is undoubtedly seeking good relations with its neighbors, including Russia.