“The Arctic is a key driver of global trade,” said VEB.RF Deputy Chairman Artem Dovlatov at the St. Petersburg International Economic Forum in 2025. He paid particular attention to the development of the Transarctic Transport Corridor.
“Nowadays, we understand that the Transarctic Transport Corridor is a major artery of commerce between Europe and Asia. It is a safe and comfortable route for our partners, attractive for both domestic and international companies. We want each mile of the route, each enterprise and municipality to work in close collaboration and to deliver real benefits for Russian citizens, government and investors,” said Artem Dovlatov at the Arctic as a Trend session. He mentioned that alternative transport corridors are of particular importance when standard sea routes are both congested and vulnerable.
According to Artem Dovlatov, the development of the Transarctic Transport Corridor delivers solutions to global challenges: environmental changes, geopolitical risks or reliance on bottleneck routes. The Northern Sea Route provides a reliable connection between Europe and Asia. Tightening this connection accelerates the flow of goods, enhances global trade connectivity and strengthens Russia’s position in the global trade market.
As instructed by the Russian President, VEB.RF set up a project office to coordinate transport, logistics, industrial and urban projects in the Arctic. According to VEB.RF, it has already launched 17 Arctic projects totalling over 2 trillion roubles, including master plans of five key settlements. Another 12 projects of up to 500 billion roubles are well under way.
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