Northern Sea Route takes first place on agenda at Russian Arctic forum
(MENAFN) The development of Russia's Northern Sea Route (NSR) will be the key focus at the International Arctic Forum in Murmansk, where discussions will take place on Wednesday. Murmansk, the largest city north of the Arctic Circle and home to a vital Russian port, serves as the venue for this two-day event. The forum, organized by the Russian government and Rosatom, the national nuclear energy company, aims to address the growing interest in the Arctic, driven by its untapped energy and mineral resources, as well as its strategic trade potential.
The NSR, a transport corridor through Russia's Arctic and Far East regions, is being developed as the shortest shipping link between Europe and the Asia-Pacific. This route could drastically reduce shipping times compared to traditional routes through the Suez or Panama canals. The forum will focus on modernizing the NSR, improving its year-round operational capacity, enhancing logistics, and strengthening ties with Southeast Asia and the Persian Gulf.
Over the past decade, the NSR has seen rapid development, with significant investments from countries like India and China, which are involved in Arctic energy projects. Russian President Vladimir Putin has made the route a strategic priority, with plans to ensure all-year navigation and encourage international cooperation. By 2030, Russia aims for annual maritime cargo flows along the NSR to reach 200 million tons, bolstered by investments in port infrastructure and the Arctic fleet.
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