Russia, India reportedly in talks to expand Northern Sea shipping route

Russia and India are taking a look at increasing the usage of the Northern Sea transport route that passes by the Artic and which may embody the constructing of processing amenities, Russia’s Interfax company has reported.

Alexei Chekunkov, Russia’s Minister for the Development of the Far East and the Arctic, is visiting India and a key subject in his talks with Indian officers was the “reliable and safe” transportation of products by the Northern Sea Route utilizing Russian and Indian ports, Interfax reported on Wednesday.

“It was especially noted that the cost of delivering a container from Vladivostok to India is a third lower than the cost of shipping a container from Moscow,” the news company quoted a Chekunkov assertion as saying.

India, which has not explicitly condemned Russia’s offensive in Ukraine, emerged as the biggest purchaser of Russian oil after China final yr.

Russian oil gross sales to India up 22-fold final yr

Russian Deputy Prime Minister Alexander Novak stated on Tuesday that Russia wanted to concentrate on boosting power exports to so-called “friendly” nations, as he stated Russian oil provides to India jumped 22-fold final yr.

Novak stated power revenues accounted for 42 % of Russia’s federal funds in 2022 and stated the nation’s power business was sustainable, regardless of the challenges confronted by Western sanctions

Russia desires the Northern Sea Route — which runs alongside Russia’s northern shoreline and is the shortest transport route between East Asia and Europe — to develop into a significant transport lane and has invested closely in infrastructure there.

It just isn’t at present utilized in winter attributable to thick ice. But spurred on by the warming of the Artic, Moscow plans to start year-round transport by finish of this yr.

Source: Reuters