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

Oil Exports to Increase From Russia's Western Ports in August

Oil Exports to Increase From Russia's Western Ports in August

CBOT Wheat Prices Rise As Russia, Ukraine Conflict Threatens Exports

CBOT Wheat Prices Rise As Russia, Ukraine Conflict Threatens Exports

Lemissoler Navigation Names Bulk Vessel Pair

Lemissoler Navigation Names Bulk Vessel Pair

Russian Grain Lobby Warns Black Sea Attacks Threaten Grain Security

Russian Grain Lobby Warns Black Sea Attacks Threaten Grain Security

Subscribe for Maritime Logistics Professional E‑News

Ship-tracking data reveals that six Saudi oil tankers have turned away from the Gulf of Aden.
The war between Iran and ROI ushers in a golden age of oil refining. Bousso: It won't be long.
The nascent German economic recovery is threatened by low Rhine water levels