Russia to spend $44 billion on Arctic projects till 2020April 5, 2012 - 10:29 AMT PanARMENIAN.Net - Russia intends to spend around 1.3 trillion rubles ($44 billion) on economic and social projects in the Arctic until 2020, the Russian minister for regional development, Viktor Basargin, said in an interview with the government daily Rossiiskaya Gazeta published on Thursday, April 5. The state budget is expected to provide some 503 billion rubles ($17 billion) to create new transportation corridors in the Arctic, develop new hydrocarbon deposits and social infrastructure, improve living standards of local population, maintain the environment and culture of indigenous peoples, the minister said. Another 724 billion rubles ($24.5 billion) is planned to be taken from regional budgets, he said. Businesses are expected to provide another 80 billion rubles ($2.7 billion). The figures are yet to be confirmed. Arctic territories, seen as the key to huge untapped natural resources, have increasingly been at the center of mounting disputes between the United States, Russia, Canada, Norway, and Denmark in recent years as rising temperatures lead to a reduction in sea ice, providing access to lucrative offshore oil and gas deposits. Russia is planning to deploy a combined-arms force by 2020 to guard its political and economic interests in the Arctic, RIA Novosti reported. Top stories Azerbaijani President Ilham Aliyev arrived in Moscow on April 22 to hold talks with Russian counterpart Vladimir Putin. Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". Partner news | Welcome to CaseKey 2024. Byblos Bank Armenia firmly stands by future innovators Strategic business cases, invaluable experience, innovative approaches and more than 25 events are in store for the participants of CaseKey 2024. Macron honors Charles Aznavour on 100th anniversary French President Emmanuel Macron has paid tribute to the memory of French-Armenian crooner Charles Aznavour. Blinken says U.S. reviewing a number of aid requests from Armenia He said the U.S. is reviewing the requests to determine what more it can do to increase its assistance to Armenia. At least 2 CSTO members participated in preparing 44-day war against Armenia – PM Nikol Pashinyan has declared that at least two CSTO member countries participated in preparations for the 44-day war against Armenia. |