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Putin explains how Russia is going to deal with Arctic development

May 15, 15:20 UTC+3 BEIJING
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BEIJING, May 15. /TASS/. Russian President Vladimir Putin said on Monday that Russia intended to deal seriously and systemically with Arctic development issues.

In reply to journalists’ questions, Putin noted that "plans exist for building the ice-breaker fleet, moreover, the nuclear-powered fleet, and vessels with other modern equipment."

"They [the plans] will be continued," the Russian president said, adding that these plans might be slightly re-scheduled.

Putin mentioned both the shortage of budget financing and "the need to use a certain volume of equipment in northern seas for the relevant projects’ readiness" as the reasons for some delays in the program’s fulfillment.

"The first stage of the Yamal LNG project is due to become operational already this year and by this time ice-breakers and tankers should be ready," the Russian leader said.

As Putin noted, a new tanker was put into operation recently and it already called at the port of Sabetta.

"Budget money is never sufficient for anything but budget financing is not a panacea for all woes and is not the main instrument of economic development," Putin said.

According to the Russian president, "extra-budgetary, private funds are the main instrument of economic development."

"In order to attract them, it is necessary to create corresponding conditions and for this purposes the programs I spoke about are worked out," the Russian leader said.

"We will approach this theme seriously and systemically, without sticking out any part of our work," Putin said, adding that he meant the work of both the government and business.

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