Putin is betting on the Arctic and the Northern Sea Route
President Vladimir Putin is stepping up Russia's Arctic strategy, focusing on oil and gas production and the development of the Arctic as a new energy and logistics centre. This is reported by The Public with reference to The Telegraph.
Against the backdrop of sanctions and the loss of the European market, the Kremlin is promoting the Northern Sea Route as an alternative to traditional routes through the Suez Canal. According to Russian estimates, by 2030, cargo traffic through this route should increase to 200 million tonnes per year, almost three times more than the current figures.
A key element of the plan is the icebreaker fleet. Russia already has the world's largest number of nuclear-powered icebreakers and plans to expand them further. These are the vessels that help maintain navigation in the face of melting ice and harsh climate.
The Arctic region, according to geologists, contains up to 13 per cent of the world's undiscovered oil reserves and about 30 per cent of gas. Moscow is keen to use these resources to support its budget, despite technological limitations and the complexity of the projects.
At the same time, experts note that the implementation of the plans remains under threat due to Western sanctions, lack of investment and dependence on Chinese partners. Nevertheless, the Kremlin sees the Arctic as a strategic asset in the long term.
Photo: The Telegraph Russian nuclear icebreaker Yamal at the North Pole Credit Hannes RadaMoment Editorial.
