These ships were designed to replace the Project 205 (NATO: Osa Class) missile boats. The Tarantul Missile Corvette (Raketnyy Kater RK) are smaller and less capable than the previous Nanuchka Class, though several knots faster. They feature the small hull and basic arrangement of the Pauk Class anti-submarine corvettes with a different propulsion system. They may be considered a better armed successors to the Osa Class missile boats.

In the Tarantul, both the single 76 mm main gun and the two 30 mm Gatling-type guns are used for air defence, together with a comprehensive electronic warfare suite. The corvettes were are built by the several shipyards. A version of these ships for coastal anti submarine warfare and patrol was developed as the Pauk class corvette or Project 12412. The first version was based on the Pauk Class hull, though with a significantly increased weight. Equipped with four P-15M Termit (NATO: SS-N-2 Styx) ship-to-ship missiles (either the 40 km range P-15 Termit missile or the later P-20 variant with 80 km range) and the associated radar targeting system.

Missile Corvette R-63 laid down 19 November 1981 at the Sredne-Nevskiy Shipyard, Pontonny (yard No.202), launched 23 December 1983, commissioned 10 June 1985.

The corvette was part of the 349-th division of small rocket ships of the 41st brigade of missile boats of the Black Sea Fleet.

From 1985 missile corvette was renamed to Kuybishevskiy komsomolets, from 15 February 1992 renamed to R-63.

12 August 1997, the missile boat was transferred under the Agreement with Russian Black Sea Fleet to the Ukrainian Naval Forces, reclassified into a missile corvette, having received the name Kremenchug (U156).

It was not introduced into the line of warships of the Naval Forces of Ukraine due to poor technical condition.

On 7 November 2012, by decree No.878-p, the Cabinet of Ministers of Ukraine was expelled from the Ukrainian Navy.

In 2014, the missile corvette Kremenchug was scrapped and dismantled in Inkerman.