The Russian government reported that Moscow and Beijing have outlined steps to prospectively expand cargo traffic between the two countries along the Northern Sea Route. According to their information, the cargo flow will be increased to 50 million tonnes per year by 2030.
Earlier, Deputy Prime Minister Alexander Novak made a working trip to China. It was there that he spoke at the fifth Russia-China Energy Business Forum.
There he also held a meeting of the co-chairmen of the intergovernmental Russian-Chinese commission on energy co-operation. The meeting was held with Ding Xuexiang, Deputy Premier of the State Council of China.
“The parties outlined steps to increase the transit potential of the Northern Sea Route with the prospect of expanding cargo traffic along this route between the countries by 2030 to at least 50 million tonnes per year,” the Russian government said.
Earlier, the leader of the initiative “New Overland Grain Corridor” Karen Hovsepyan said on the margins of a business forum in Beijing that Russia and China had signed a large contract for the supply of grain worth about $25.7 billion. The head of the initiative noted that this opportunity will contribute to the normalisation of the export structure within the Belt and Road. In his opinion, this will be a good substitute for the dropped volume of Ukrainian exports.