Tsar Nicholas II had desired a warm-water port on the Pacific since his accession to the throne in 1894. He achieved this ambition in March 1898 when Russia signed a 25-year lease for Port Arthur and the Liaotung Peninsula with China. Japan had previously forced China to sign over the port and its surrounding territory as part of the treaty that concluded the First Sino-Japanese War of 1894–1895, but the Triple Intervention of France, Russia, and Germany forced them to return the port in exchange for a sizeable increase in the indemnity paid by the Chinese. Japan invested much of the indemnity money in expanding its fleet, while Russia began a major building programme ("For the Needs of the Far East") to defend its newly acquired port.