marine link image
Register now for the Port of the Future Conference • 2 Days, 50 Ports • Houston/Galveston area, TX • April 12–14, 2027

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

Iran to Shut "Illegal" Hormuz Routes

Iran to Shut "Illegal" Hormuz Routes

Sunflower Oil Cargoes to India Face Disruptions Amidst Black Sea Tensions

Sunflower Oil Cargoes to India Face Disruptions Amidst Black Sea Tensions

Michelle Awad Elected as New Vice-Chair of the Halifax Port Authority Board of Directors

Michelle Awad Elected as New Vice-Chair of the Halifax Port Authority Board of Directors

LR taps Edris for Middle East Post

LR taps Edris for Middle East Post

Subscribe for Maritime Logistics Professional E‑News

Hope fading for new Boeing deal during US-China summit, sources say
Oil giants rush in to help Italy's Meloni reduce energy costs by introducing fuel price caps
Canada fast tracks oil pipeline to diversify economy and divert away from US