Dyumin stressed the importance of Russia's development of minerals in the Arctic

Alexey Dyumin, Secretary of the State Council of the Russian Federation, said that the Arctic is a huge resource base and stressed the importance of mineral development for Russia. He announced this on March 26 at the International Arctic Forum in Murmansk.

"There are over 1.5 thousand trillion cubic meters of gas and 83 billion barrels of undiscovered oil in the Arctic. This is about a little more than 13% of the world's total reserves. Based on this, it is necessary to determine the prospects — these are both the timing and the volume of development of minerals in the Arctic zone. Along with gas, these are coal — Taimyr, polymetals and copper — Chukotka, and much more," explained Dyumin.

As the Secretary of the State Council of Russia noted, the Northern Sea Route (NSR) is no longer just a transport project, it needs to be considered only in conjunction with the development of the entire Arctic region.

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Earlier in the day, Kirill Dmitriev, head of the Russian Direct Investment Fund (RDIF), proposed creating an investment fund for the development of the Arctic. According to him, this is necessary for effective investments in the development of the Northern Sea Route and the entire Arctic region.