Investment Portal of the Arctic Zone of the Russian Federation

Chekunkov has outlined plans for transporting cargo worth over RUB 100 tn via the NSR

The Minister for the Development of the Far East and the Arctic highlighted that this would contribute approximately RUB 20 tn to the budget.

7 June 2024

Over the next 12 years, it is planned to transport 2 bn tons of cargo via the North Sea Route. According to Aleksey Chekunkov, these shipments are valued at approximately RUB 100 tn at current prices and are expected to generate RUB 20 tn in tax revenue for Russia's budget. This was reported by TASS.

Chekunkov emphasised the Arctic's critical role in global economics with its vast resources including minerals like nickel and cobalt, hydrocarbons such as oil and gas, as well as forestry products and shipbuilding capabilities. Chekunkov noted that this broad sectoral impact draws global attention to the Arctic, recognising the North Sea Route as a pivotal shorter link from Asia to Europe.

Governor Alexander Tsybulsky of Arkhangelsk Region considers ensuring safety on the North Sea Route as one of his top priorities.

'Within a few years, there will be no Arctic zones in Russia without rescue services, and by 2030, Russia will boast a state-of-the-art icebreaker fleet. It's vital that coastal infrastructure does not become a bottleneck; focusing our efforts here is essential today,' he remarked.


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