Open AccessJust in time: Will Putin's revitalized Northern Sea Route reorder global shipping?
Author(s) -
Thomas E. Rotnem
Publication year - 2021
Publication title -
international journal of business and economic development
Language(s) - English
Resource type - Journals
eISSN - 2051-8498
pISSN - 2051-848X
DOI - 10.24052/ijbed/v09n01/art-03
Subject(s) - the arctic , arctic , political science , soundness , economy , business , international trade , geography , economics , oceanography , geology , computer science , programming language
This paper examines Russia's Arctic Strategy, in general, and the development of the Northern Sea Route, in particular. The current Russian regime regards the successful development of the Northern Sea Route (NSR) as the linchpin of its Arctic endeavors and the harbinger of Russia's economic future, focusing upon not only creating a faster and cheaper shipping route from Asia to Europe, but also spiriting out to world markets the vast fossil fuel and mineral deposits that lie in Russia's frozen north. After discussing recent factors causing Russia's leaders to invest significant resources in its Arctic region and the novel transportation artery, we then focus upon recent steps made toward building out the NSR. The article concludes with an examination of significant problems plaguing the route's development and provides a tentative assessment of the project's overall soundness.