HELSINKI, November 24. /TASS/. The new law on development of the Russian Arctic zone can be passed in spring 2018, member of the Federation Council [upper house of Russian parliament - TASS] Igor Chernyshenko told TASS on Friday.

"The Arctic vector continues playing a critical role in Russia. We have recently approved a new version of the program on socioeconomic development of the Arctic until 2025. It provides for establishment of a range of development points with funding over 240 bln rubles ($4.1 bln). These are largely related to the public private partnership format, rather than to budget money," Chernyshenko said.

A new revision of the draft federal law on development of the Russian Arctic zone has been published recently, the senator said. This will probably "be the final legislative act forming the whole legal platform needed for the Arctic development," he added.