Moscow - Saba:
Russian President Vladimir Putin described the Arctic region as "a region of strategic importance for Russia" during a government meeting.
The Russian president's remarks came during his chairing of a meeting of the Council for Strategic Development and National Projects on Friday, according to Russia's RT channel on Saturday.
Putin supported the Russian Finance Ministry's proposal to allocate a special budget for the implementation of master plans in cities in the Far East and the Arctic region.
He explained that this funding will gradually reach at least 5% of the expenditures of relevant government programs over the next six years.
The President emphasized that this approach "will not require additional funding in general, but rather a reorientation of existing programs toward the development of this strategic region."
Moscow attaches great importance to the development of the Russian Arctic, particularly the Northern Sea Route, which extends across the Arctic Circle and connects the Atlantic and Pacific Oceans.
The Arctic region contains a significant portion of Russia's reserves of gold, chromium, manganese, and other minerals. Approximately 80% of Russia's gas and 60% of its oil are extracted from this region.
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