Putin says Russia planning year-round navigation on Northern Sea Route

Russia plans to make navigation along the Northern Sea Route year-round, President Vladimir Putin said on Thursday, outlining a series of measures aimed at expanding transport, energy and technological infrastructure in the Far East and Arctic.

Speaking at the plenary session of the Eastern Economic Forum in Vladivostok, Putin also said the first oil shipments from the Vostok Oil project would begin soon, while cargo traffic along the Transarctic Transport Corridor is expected to double by 2030.

"Based on the experience gained, we are launching a business support system that is unprecedented in scale and scope. Starting from January 1 next year, a single preferential regime will begin to operate throughout the Far East and the Arctic," he said.

Russia has been developing the Northern Sea Route as a major Arctic shipping corridor connecting its northern ports with the Pacific region. Putin has repeatedly identified extending navigation along the route as a key element of Russia’s Arctic development plans.

The president also ordered efforts to develop the use of low-altitude drones to transport civilian cargo in the Far East.

"With the development of unmanned aircraft, the sky at low altitudes is becoming as busy a transport artery as railways and waterways. And it is already necessary to set standards for autonomous transportation of civilian goods using drones," he said.

He also proposed allowing Far Eastern regions to reinvest infrastructure loans they repay into the implementation of master plans in their territories.

Russia also plans to expand communications infrastructure, with the goal of bringing communication links to all regional capitals in the Far East by 2030, Putin said.

'Deficit and surplus come in waves'

Putin also commented on the Russian budget deficit.

According to him, "proficit and deficit come in waves," and taking into account Russia's low state debt, as of now there are no grounds to worry.

"As for the deficit, the surplus, it's all coming in such waves.

"There is a shortage now. But I am sure that gradually, solving first of all the tasks of maintaining a healthy macroeconomics, we will solve all these issues," he said.

The Eastern Economic Forum is organized to discuss the development of the Far East, transport connectivity, technology and international economic cooperation are among the central themes of the business program.

Putin’s remarks came as China and Russia continued discussions on expanding economic cooperation in the Far East.

Chinese Vice Premier Ding Xuexiang told Putin on the sidelines of the forum that prospects for cooperation in developing the region were “broad and promising,” according to Xinhua news agency.