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

Short-Term Tanker Market Shaken Up by Geopolitics

Short-Term Tanker Market Shaken Up by Geopolitics

Panama Canal, USGBC Sign MOU to Enhance US Agricultural Trade

Panama Canal, USGBC Sign MOU to Enhance US Agricultural Trade

Greg Baribault Appointed as President of Enstructure Northeast

Greg Baribault Appointed as President of Enstructure Northeast

Blue Water Announces Andy Tite as Senior Vice President, Projects

Blue Water Announces Andy Tite as Senior Vice President, Projects

Subscribe for Maritime Logistics Professional E‑News

MSCI will add India's Aditya Birla Capital and L&T Finance as part of its flagship global index, while dropping IRCTC
Canada's Carney claims that the issue of the bridge Trump threatened will be resolved
AirAsia X unveils Kuala Lumpur-Bahrain-London route, establishing Middle Eastern hub