The Northern Sea Route is becoming more efficient than the Suez Canal nowadays, Russian President Vladimir Putin said on Monday.
Putin noted that through the Northern Sea Route, the economy of cargo transportation increases "many times over."
The president added that Russia is the only country in the world that has a nuclear-powered icebreaker fleet and has "big plans" for its further development.
Russia's nuclear-powered icebreaker Leader will break ice without any restrictions, which will expand the possibilities of the Northern Sea Route, Putin concluded.
Earlier, Deputy Prime Minister Yuri Trutnev revealed that the volume of transportation along the Northern Sea Route in 2024 is tentatively projected at about 50 million tons.