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Vladimir Putin Touts Arctic Expansion
Posted
April 9, 2019
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April 9, 2019
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15:13Now PlayingRussian President Vladimir Putin speaks at the International Arctic Forum, a conference organized by Russia on five occasions since 2010, in St Petersburg. The panel on Arcitc climate change was moderated by Bloomberg Senior Executive Editor John Fraher. During his speech, Putin invited foreign investors to take part in the construction of port infrastructure in Murmansk and Petropavlovsk-Kamchatsky that would serve the Northern Sea Route. He also asked the government to draw up plans for tax relief that would promote the development of the Arctic region. “We invite our foreign partners to joint work to create port hubs at the end points of the (Northern Sea) route,” Putin said.
Government leaders, international organizations and researchers are all taking part in the two-day conference to discuss and find solutions for sustainable growth in the Arctic region. Previous years' topics have included issues such as the environment and transport. The forum is expected to be attended by around 300 Russian and 46 foreign businesses, along with the Finnish, Icelandic authorities, and Norwegian and Swedish prime ministers.
Earlier, Russian Foreign Minister Sergei Lavrov defended his country’s military buildup in the Arctic amid U.S. warnings of rising tensions in the remote and energy-rich region. Russia, which has about half the Arctic coastline, is building new bases and stepping up air and naval activity in the region. The military expansion comes as countries gear up to develop the area’s untapped oil and gas deposits with climate change accelerating the rate of ice melting.
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