In 1954, Soviet leader Nikita Khrushchev transfered the Crimean Peninsula from the Russian Soviet territory to the Ukrainian Soviet territory. Upon the breakup of the Soviet Union in 1991, Ukraine retained Crimea and thus Russia's port for their Black Sea Fleet. Ukraine agreed to lease to port at Sevastopol to Russia until 2017. However, now some Russian political leaders are calling for the return of Crimea to Russia. The New York Times has more.

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Hi, Matt !!!
What is your personal opinion of a geographer. Must Sevastopol be transferred to Russia, or not?
Thanks for the post and the question! I would suggest that the Crimean Peninsula should remain in Ukrainian hands since it was transfered to Ukraine well before independence and has been an integral part of the country since independence. Additionally, the peninsula is just as, if not more so, physically connected to Ukraine as it is to Russia.
This link : http://www.iccrimea.org/population.html shows Russians make up more than 2/3 of the population of the Crimean Peninsula.
Given Russias present strength and it’s desire to return to it’s past empire, I think the Crimean Peninsula will return to Russia.