PARIS: France said Wednesday it had agreed a compensation deal with Russia for failing to deliver two Mistral warships due to the Ukraine crisis, drawing to a close a months-long diplomatic and commercial spat.

The fate of the ships has long plagued Franco-Russian ties following Paris' decision in November to put the 1.2-billion-euro ($1.3-billion) deal on ice as the West slapped sanctions on Moscow over its annexation of Crimea and backing of rebels in Ukraine.

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