Terms of the peace treaty of the Russo-Japanese War of 1904-1905.

In 1905, the Portsmouth Peace Treaty was signed between the Russian Empire and Japan. Russia lost the Russo-Japanese War, so it ceded South Sakhalin and the Liaodong Islands to the enemy. Russia made many concessions to get the truce. She allowed Japan to fish in the Bering and Okhotsk seas. Russia had to recognize Korea as Japan’s sphere of influence and grant trade concessions. Japan and Russia under the agreement pledged to liberate the territories of Manchuria.