ST. PETERSBURG, June 16. /TASS/. Russia intends to significantly renew its commercial fleet in 2023-2027, President Vladimir Putin said at the St. Petersburg International Economic Forum (SPIEF).

"I would like to add that we will significantly renew the commercial fleet in the next five years. The Ministry of Industry and Trade has already made amendments to the large-scale construction program. We will use resources of the National Wealth Fund to implement it. I would like to note construction of at least 260 vessels is planned within this framework of this program alone at Russian shipyards in 2023-2027," Putin said.