Russia is expected to spend more than $700 million to modernize the outdated and decrepit RFS Admiral Kuznetsov (063), its only aircraft carrier, without which the Russian Navy loses its already limited ability to irritate the U.S. Navy.

Already delayed by over a year, the modernization is expected to begin in September at a ship repair facility near Murmansk.

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"In September, Zvezdochka will sign with the fleet a contract for the second stage of the repairing with modernization of the Admiral Kuznetsov," according to sources cited by Russian state-owned media.

"The deal's cost is agreed now -- it is almost 40 billion rubles. The work will begin in that month at the 35th shipyard in Roslyakovo near Murmansk."

The refit is planned for completion by the fourth quarter of 2020.  It will see the repair of electric-mechanical parts, as well as the repair of the flight deck to guarantee safer take-offs and landings.

The refit is expected to increase the service life of the carrier by 25 more years. Without the refit, the only option will be to decommission the Kuznetsov, a no starter that would dramatically illustrate the Russian Navy's weakness.

The decommissioning of the Kuznetsov will inflict a huge loss of prestige on Russia and will be a huge slap to Russia's face. It will transform the Russian Navy into a coastal navy without the means to project Russian power overseas.

Only Russia's submarines can reach out worldwide and since no one is supposed to see a submarine, these warships can't be visible symbols of national power.

Russia will be alone among the five great military maritime powers (the U.S., China, India, the United Kingdom and France) without an aircraft carrier. Even Thailand and Brazil have their own aircraft carriers.

The Kuznetsov's unnecessary three month-long deployment off Syria in October 2016 delayed the refit and accelerated the excessive wear and tear battering the ageing carrier, which was launched in 1985.