Abstract

Arctic's huge reserves potential development was blocked for many years by the lack of accessible and all-year open for navigation transport routes. In spite of the fact that the Northern Sea Route is the shortest way from Europe to Asia, currently about 75% of the total cargo turnover delivers through the south corridor via the Suez Canal and the Mediterrenian sea, but the turnover via the Northern Sea Route is growing rapidly over the past years. Due to the strategic allocation of the Northern Sea Route it attracts enormous attention of the international companies now. This paper highlights challenges with the development of the Northern Sea Route nowadays along with the opportunities for international cooperation.

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