Russia to Spend $30 Billion on Northern Sea Route by 2035

August 4, 2022

© Andrei Stepanov / Adobe Stock
© Andrei Stepanov / Adobe Stock

Russia is to spend almost 1.8 trillion roubles ($30 billion) on the Northern Sea Route development project up to 2035, according to a document uploaded to the government's website.

The document said the sea route, which is being facilitated by reduced sea ice as a result of climate change, is "a very important transport corridor, of both national and global significance".


(Reuters - Reporting by Reuters; Editing by Alison Williams)

Logistics News

Rio Tinto Ships Eight Billionth Tonne of Iron Ore from the Pilbara

Rio Tinto Ships Eight Billionth Tonne of Iron Ore from the Pilbara

Third VLCC Exits Strait of Hormuz

Third VLCC Exits Strait of Hormuz

AAPA Supports House Appropriations Bill with $538m for Port Infrastructure

AAPA Supports House Appropriations Bill with $538m for Port Infrastructure

US Grain, Soy Futures Drop After US-China Talks

US Grain, Soy Futures Drop After US-China Talks

Subscribe for Maritime Logistics Professional E‑News

Xi and Putin criticize the US together on nuclear, security issues
US doctor contacts Ebola patient in Uganda heading to Czech hospital
Special Report-Iran consolidates control of Hormuz through island checkpoints and diplomatic deals, as well as sometimes 'fees.'