Dmitriev announced the creation of an investment fund for the development of the Arctic by the end of 2025.

An investment fund for the development of the Arctic will be established by the end of this year. This was announced on March 27 by Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF).

"This will be a fund in which the RDIF will mainly be the anchor investor, but we will also attract other development institutions, possibly Russian banks and pension funds," he said on the sidelines of the International Arctic Forum in Murmansk.

According to Dmitriev, the fund's investors will include both Russian and Arab participants, as well as potential co-investors from the Global South and the West.

In addition, the head of the Russian Direct Investment Fund announced the interest of US companies in investing in the Arctic, including a number of Russian technologies, including projects in the field of liquefied natural gas (LNG).

"It is very important that we really see that the Arctic is such a place of joint development for a large number of countries," he said.

At the same time, the head of the Russian Direct Investment Fund clarified that all investments should be under the full control of Russia. He noted the strategic importance of the Arctic for both the Russian state and other countries, pointing to its rich resources.

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On March 26, Secretary of the State Council of the Russian Federation Alexei Dyumin said that the Arctic is a huge resource base, and stressed the importance of mineral development for Russia. According to him, there are over 1.5 thousand trillion cubic meters of gas and 83 billion barrels of undiscovered oil there.