The Treaty of Nöteborg between Sweden and Novgorod Republic is signed, regulating the border between the two countries for the first time.

The Treaty of Nöteborg, also known as the Treaty of Orehovsk, is a conventional name for the peace treaty signed at Oreshek on 12 August 1323. It was the first agreement between Sweden and the Novgorod Republic regulating their border, mostly in the area which is now known as Finland. Three years later, Novgorod signed the Treaty of Novgorod with the Norwegians.

The Novgorod Republic was a medieval state that existed from the 12th to 15th centuries in northern Russia, stretching from the Gulf of Finland in the west to the northern Ural Mountains in the east. Its capital was the city of Novgorod. The republic prospered as the easternmost trading post of the Hanseatic League, and its people were much influenced by the culture of the Byzantines, with the Novgorod school of icon painting producing many fine works.

August 12 is the 224th day of the year in the Gregorian calendar; 141 days remain until the end of the year.