The policy of sanctions pressure that the US is using cannot have a long-term success, Russian Foreign Minister Sergey Lavrov said in his speech at the Forum of Young Diplomats from the Pacific Rim Countries that is taking place on Wednesday as part of the fourth Eastern Economic Forum (EEF).

Axar.az reports citing TASS.

"We are determined to continue intense negotiations in accordance with our policy, which is aimed at signing a peace treaty, while resolving the issue of the ownership of four northern islands (that’s what Japan calls Russia’s southern Kuril Islands - TASS). Our stance on that score has remained unchanged," the source noted.

Earlier in the day, Russian President Vladimir Putin, speaking at a plenary session of the Eastern Economic Forum in Vladivostok, suggested signing a peace treaty with Japan by the end of this year without any preconditions.

Russia and Japan have been in talks to sign a peace treaty since the middle of last century. The main stumbling block to this is the issue of sovereignty over the southern Kuril Islands. After the end of World War II, the Kuril Islands were incorporated into the Soviet Union. However, the ownership of Iturup, Kunashir, Shikotan Islands and the Habomai Islands is challenged by Japan. The Russian Foreign Ministry has stated on numerous occasions that Russia’s sovereignty over the islands is beyond any doubt.