"President Vladimir Putin stated that the Northern Sea Route's importance as 'the most safe, reliable and efficient path is becoming ever more obvious.' This route is the shortest maritime connection between Asia and Europe, yet it remains underutilized due to various challenges."
"Shipping goods along the Northern Sea Route can reduce travel distance by up to 40% compared to the Suez Canal. However, the NSR is not frequently used, with only 38 million tons of cargo passing through in 2022, less than 1% of global maritime trade."
"Despite the setbacks caused by the 2022 Russian invasion of Ukraine and subsequent Western sanctions, Russia is investing 1.8 trillion rubles for the NSR's development until 2035, focusing primarily on transporting crude oil and liquid natural gas."
The Northern Sea Route (NSR) is promoted by Russian officials as a safer and more efficient maritime path between Asia and Europe. It can reduce travel distance by up to 40% compared to the Suez Canal. However, its usage is limited due to the route being frozen for much of the year and political issues stemming from the war in Ukraine. In 2022, only 38 million tons of cargo passed through the NSR, significantly below the target of 80 million tons. Despite this, Russia continues to invest heavily in the NSR's development.
Read at www.dw.com
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