Political Result
By the Treaty of Portsmouth, August 1905, the claims of Japan in Korea were recognized; Russia agreed to evacuate Manchuria and ceded the Liao-Tung peninsula (including Port Arthur) and the southern half of Sakhalin to Japan. The payment of an indemnity, which had been the chief obstacle to the conclusion of peace, was waived by Japan. The moderation of the Japanese demands made a good impression in the world, but was resented in Japan itself.