Banks Pay More Attention to NSR Cargo Transit


Photo: RBC

It is said that NSR cargo transit may allegedly bring more than 1 thousand billion dollars revenue. Only if Russia could ensure the optimization of the ice support costs.

The recent VTB bank report tells that within 10 years, the total cargo flow along the Northern Sea Route (NSR) could reach 400 million tons, half of which will be provided by Russian enterprises and another half by transit cargo transportation. It also suggests that the country can potentially benefit more than 1 thousand billion dollars from cargo transit along the Northern Sea Route by 2030.

To remind, the Bank supports the implementation of energy supply projects for the Arctic and Far Eastern regions on the basis of floating power units and low-power nuclear plants.

In summer 2023, this Bank signed the agreement on cooperation with Rosatom Corporation, which is in charge of almost all economic activities in the Russian Arctic, to implement projects for the NSR development. Plus, Russian federal state corporation Atomflot agreed to get bank financing for the construction of the 3rd and 4th serial universal nuclear icebreakers of Project 22220.

Source: Logistics in Russia