Presidents Yushchenko and Putin discussed the leasing of naval base in Crimea

The leaders of Russia and Ukraine discussed the fate of a Russian naval base on the Black Sea during a meeting Wednesday.

Presidents Vladimir Putin and Victor Yushchenko focused on the Sevastopol base in the Autonomy Republic Crimea, which is leased by the Russian Black Sea Fleet.

Although the two countries have an agreement under which Russia will lease the base until 2017, some Ukrainian politicians sought a revision of the contract terms after Russian energy giant Gazprom announced that it wanted to raise prices for supplies of natural gas to Ukraine to market levels, RIA Novosti told.

"We have reached agreement that the relevant committee will discuss all the unsettled issues in January or February." Said Yushchenko.

A Russian delegation source said Ukrainian representatives had confirmed it would "honor all its commitments on the base in full."