The Northern Sea Route: will it be the route of the XXI centure?

A STRATEGIC TASK

Michail Nikolayev,
President of the Republic of Sakha (Yakutia),
Chair of the Northern Forum

         Not so long ago, the Northern Sea Route was the locomotive of both the Russian economy and of the country's scientific and technical progress. Now many ports on the Arctic Ocean coast and many mining, construction, and other enterprises have practically ceased operating.
         We are losing the lands that we have been developing for centuries. It is possible to gain back what we have lost, but only provided we have the Northern Sea Route. This does not concern shipment volumes alone and represents a strategic task for Russia. Without the Northern Sea Route it is impossible to use the bowel reserves of the north. Along the coasts of our republic alone, we have $700 billion worth of reserves. And ours is but one republic!
         We are proposing the establishment of an International Bank of Reconstruction and Development of the Arctic that could be founded by all the regions and the Federal government itself. We are prepared to put 0.5 percent of the annual volume of industrial production volume into its ownership capital. This would be 40 billion rubles. I believe that Tyumen, Komi, Archangelsk and Murmansk would all agree to contribute their share as well,considering their great industrial potential. The next step would be establishing a Northern Sea Route corporation or holding company.
         Finally, we suggest making this project not strictly Russian but a part of the transcontinental transport system of the 21st century, in which Scandinavian countries, Japan, the U.S. and other interested parties could enter the holding company.