Speaking at a strategic meeting on the development of the NSR, Prime Minister Mishustin stressed the important role of this sea route in enhancing transport connectivity for the country's remote territories.

The meeting focused on assessing the progress of the NSR development plan, approved in August 2022, which includes the construction of more than 50 new icebreakers and ice-resistant vessels, as well as the establishment of ports, terminals, emergency rescue centers and the deployment of an orbital satellite network to monitor the route's operations.

Northern Sea Route (red) compared to the Suez Canal route (blue). Photo: ABC News

According to Prime Minister Mishustin, to implement this comprehensive plan, about 2,000 billion rubles will be invested over the next 13 years. About 30% of this amount, or 600 billion rubles (about $7.37 billion), will be allocated from the federal budget. He stressed the importance of creating a comprehensive infrastructure complex, including new ports, technical and emergency stations, weather and ice monitoring systems, and a traffic management system spanning the entire NSR. Prime Minister Mishustin said that the government will launch five meteorological satellites this year, which will increase the ability to monitor and provide round-the-clock support on all routes in the Arctic.

According to Russia's Sputnik news agency, the NSR runs along the northern coast of Russia, with a length of about 5,600km, connecting European and Russian Far Eastern ports, as well as river mouths in Siberia to form a unified transport route.

This is the shortest shipping route from Asia to Europe, and is also a key economic project for Russia in the Arctic and the Far East. In a decree issued in May 2018, Russian President Vladimir Putin requested that by 2024, the cargo traffic along the NSR must double to 80 million tons/year.

The construction of the NSR is also considered one of Russia's important solutions to replace the Suez Canal.

VNA