The Sarancha class is the NATO reporting name

NATO reporting name

NATO reporting names are classified code names for military equipment of the Eastern Bloc...

 for a hydrofoil

Hydrofoil

A hydrofoil is a foil which operates in water. They are similar in appearance and purpose to airfoils.Hydrofoils can be artificial, such as the rudder or keel on a boat, the diving planes on a submarine, a surfboard fin, or occur naturally, as with fish fins, the flippers of aquatic mammals, the...

 missile boat

Missile boat

A Missile Boat is a small craft armed with anti-ship missiles. Being a small craft, missile boats are popular with nations interested in forming an inexpensive navy...

 built for the Soviet Navy

Soviet Navy

The Soviet Navy was the naval arm of the Soviet Armed Forces. Often referred to as the Red Fleet, the Soviet Navy would have played an instrumental role in a Warsaw Pact war with NATO, where it would have attempted to prevent naval convoys from bringing reinforcements across the Atlantic Ocean...

. The Soviet designation was Project 1240 Uragan (Серия 1240 Ураган- Hurricane)

Design

The boat was a very complex design. Unlike previous Soviet hydrofoil boats the Project 1240 had fully submerged foils with propellers mounted on the after set of foils. The boat achieved a speed of 58 knots (113.7 km/h) and had a heavy armament. It was deemed too large, complex and expensive for series production and only a prototype boat was built.

Missile boat MRK-5

The MRK-5 (МРК-5) was laid down at the Petrovski plant in Leningrad in 1973 and was on trials until 1977. In 1979 She was the transferred to the Black Sea Fleet

Black Sea Fleet

The Black Sea Fleet is a large operational-strategic sub-unit of the Russian Navy, operating in the Black Sea and the Mediterranean Sea since the late 18th century. It is based in various harbors of the Black Sea and the Sea of Azov....

via Russian inland waterways. She was based in Sevastopol until 1990 when she was decommissioned. In 1992 she was damaged by fire and sunk in shallow water. The wreck was raised and scrapped.