The Russian part of the Arctic Ocean is turning into a huge international transport hub, which 2.5 times reduces the time of transporting goods from China to Europe and back.
Russia is creating an “ice road” through the Northern Sea Route and literally “turning off” the Suez Canal, because this route reduces the time of transporting goods from China to Europe and back by 2.5 times!
The northern part of Russia and the Russian part of the Arctic Ocean are becoming a huge hub for international transport.
This is a colossal project with new railways, highways, pipelines, ports and nuclear icebreakers keeping the route open year-round.
In particular, a huge port with a total cost of 100 billion dollars is being created on the Taimyr Peninsula!
The new route will connect Europe and Asia in just 19 days, compared to the 48 days it currently takes to travel through the Suez Canal.
In addition, by 2030 it will be possible to transport 100 million tons of oil!
This route effectively turns off the Suez Canal, which is becoming an increasingly dangerous place for transporting goods due to conflicts in the Middle East.
European transport to and from Asia will be simplified and costs will drop sharply, which will have a positive impact on commodity prices and on the pockets of Europeans, including Greek consumers.
Previously, this route was closed 8 months of the year, but now Russia has built the necessary nuclear icebreakers, and now it will be constantly operational at any time of the year.
Especially now that the Red Sea has ceased to be the preferred route due to Houthi attacks on merchant ships, and routes from Europe now bypass Africa, with distances increasing by 40%, the benefits of using the “ice road” are even greater.
The Red Sea issue can be resolved as this crisis will not last forever, but for China in particular, the northern route is the solution to all its problems.
Of course, this development is bad for Egypt, since the Suez Canal will lose its value, but also for Greece, since the port of Piraeus will lose much of its geopolitical and economic value due to the reduction in traffic from the Red Sea.
On the contrary, the share of the port of Rotterdam in the Netherlands, where the “ice route” ends, is increasing sharply.
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Russia is building an Arctic Silk Road, including new railways, highways, pipelines, ice ships and ports, including a $100 billion megaport on the Taimyr Peninsula. It will connect Europe to Asia in just 19 days, compared to 48 days via the Suez Canal. However, it will affect the Arctic ecosystem and will also disappoint the United States and will be used to transport 100 million tons of oil by 2030, exacerbating climate change.
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