Russia to boost investments in the Arctic

Icebreaker Dikson in Port of Arkhangelsk.

Russia’s President Dmitry Medvedev pledges to boost Arctic research and exploration amid tough competition from other nations to the region’s natural resources.


- We are simply committed to continue research of the Arctic Ocean and the Arctic in general, because if we fail to do this, other countries will take control, Medvedev said on Friday, according to RIA Novosti.

Medvedev underlined that this does not make the other countries Russia’s enemies, but stated that the Arctic Ocean belongs to Russia according to international law: - It’s our shores and our sea, both in relation to geography and to the vast resources there.

If Russia does not buy into Arctic research, then other countries from outside the region will enter the arena, Medvedev believes.

The President also underlined the need for more investments in development of the Northern Sea Route, and said that Russia will allocate significant means to construction of new icebreakers and other vessels and modernization of ports, RIA Novosti reports.

Also Prime Minister Vladimir Putin sees a great potential in the Northern Sea Route and has said that it is Russia’s intention to turn it onto a key transport route of global importance.

To reach this goal, Russia is taking several measures. Safety and communication along the NSR is being improved by the building of ten new bases for search, rescue and communication, and a new Law on the Northern Sea Route is in the pipeline.