The Khanka, also known as the “Russian Wreck”, is the wreck of a Russian spy ship. Being a spy ship, there is of course, not much information publicly available on it.
The ship in question here has an “SSV” designation (Sudno Svyazyy, or communications vessel) located on its hull which positively identifies it as a MOMA (Project 861M) Class ship, a modified 861-class survey/bouy tender. It is believed, but yet to be proven, that it is the wreck of the Khanka which is listed at the Miramar website as being lost prior to 01 July 1982, but the ship details do not match this ship type.
The wreck lies at Zabargad Island in 24-meters of water. The mast of the ship just breaks the surface during low-tide and is a good place to make a safety stop. The ship appeared to strike the reef head-on and the bow and forward hold have separated from the rest of the ship and is laying on its port side.
Learn more about diving this wreck at: http://dive.im/TheKhanka