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

Great Lakes Iron Ore Trade Down in November

Great Lakes Iron Ore Trade Down in November

Indiana Expands Barge Shipment Handling Capacity

Indiana Expands Barge Shipment Handling Capacity

Liebherr to Supply STS Cranes to Port Tampa Bay

Liebherr to Supply STS Cranes to Port Tampa Bay

StormGeo Strengthens Analytics, Appoints New Leader

StormGeo Strengthens Analytics, Appoints New Leader

Subscribe for Maritime Logistics Professional E‑News

Prices of oil rise after Ukrainian attacks on Russian oil infrastructure and stalled peace negotiations
Panama's Copa suspends its flights to Venezuela citing a signal problem
Australian unions back Woodside's Pluto LNG 2.