The peace treaty signed in Paris in 1947 followed the outline of the armistice.

• limiting the size of Finland's defense forces,
• cession to the Soviet Union of the Petsamo area on the Arctic coast,
• lease of the Porkkala peninsula off Helsinki to the Soviets for use as a naval base (prematurely terminated in 1956),
• free transit access to this area across Finnish territory,
• war reparations to the Soviet Union decided to 300 million gold dollars (amounting to an estimated 570 million US dollars in 1952, the year the payments ended).

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