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

HDI Global Reorganizes US Operations, Welcomes New CEO

HDI Global Reorganizes US Operations, Welcomes New CEO

Gulf Tanker Rates Nearly Double as Middle East Exports Ramp Up

Gulf Tanker Rates Nearly Double as Middle East Exports Ramp Up

Sailors' Society to Roll Out Seafarer Wellbeing Program

Sailors' Society to Roll Out Seafarer Wellbeing Program

Svanehoj Appoints Larsen President

Svanehoj Appoints Larsen President

Subscribe for Maritime Logistics Professional E‑News

TotalEnergies CEO: We must invest in Gulf pipelines so as to avoid Hormuz.
Europe Inc. adapts to the heatwave with cool boxes and dawn starts
Court rules that UK approval of Gatwick airport expansion is legal