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Tuesday, August 9, 2022

Russia to Spend $30 Billion on Northern Sea Route by 2035

Maritime Activity Reports, Inc.

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)

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