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

Russian Grain Lobby Warns Black Sea Attacks Threaten Grain Security

Russian Grain Lobby Warns Black Sea Attacks Threaten Grain Security

France Selects Five Ports for $300M Floating Wind Investment

France Selects Five Ports for $300M Floating Wind Investment

July Russian Oil Exports From Western Ports Fall Amidst Black Sea Attacks

July Russian Oil Exports From Western Ports Fall Amidst Black Sea Attacks

Travis Niederhauser Appointed Company President at Phoenix

Travis Niederhauser Appointed Company President at Phoenix

Subscribe for Maritime Logistics Professional E‑News

In the shadow of the Berlin attacks, thousands are expected to gather in Amsterdam for a boisterous WorldPride.
Yemen's Houthis have denied plans to charge ships navigating through the Red Sea fees
Energy Minister: Serbia has obtained a waiver from US sanctions for its Russian-owned NIS Oil firm