STOCKHOLM - THE wreckage of a Soviet submarine sunk during World War II has been found in the Baltic Sea near the Aland islands between Sweden and Finland, the divers who made the discovery said on Tuesday.

The S-2 Soviet sub hit mines and sank with some 50 sailors on board on January 2, 1940, according to the divers who have been looking for the wreckage for 10 years.

'After searching in a very large area, the wreckage was found in the sea around the Aland islands near the maritime border between Sweden and Finland,' the team of six divers from Sweden and the Aland islands said in a statement.

The Aland islands, located about 50 kilometres from the Swedish and Finnish coasts, belong to Finland although a majority of the residents are Swedish speaking. -- AFP