With Russia’s economy faltering under an onslaught of Western sanctions, Russian President Vladimir Putin attended the 5th International Arctic Forum in St. Petersburg this week to promote the resource-rich region's development.

Presentations and panel discussions between more than 3,600 Russian and international lawmakers, scientists and businesspeople wrapped up on Wednesday.

Delegates discussed topics including the Northern Sea Route, Arctic shelf development, OPEC, the production and use of liquified natural gas (LNG), the brain drain from Russia’s Arctic regions, the development of infrastructure in Arctic towns and ecotourism.



Here is a selection of highlights from the two-day forum:

On the development of the Northern Sea Route

— “A global transportation corridor is going to be built compromising the Northern Sea Route ... last year the freight volume through the Northern Sea Route hit the mark of 20 million, which is three times the Soviet record which was reached back in 1987,” said Putin.

— “We’re going to increase our icebreaker fleet ... by 2035, it’s going to have no fewer than 13 heavy icebreakers and nine of them are going to be nuclear-powered. Our goal is to make the Northern Sea Route secure, safe and profitable,” Putin said.

— “The revival of the 'industrial' exploitation of the Northern Sea Route is of vital importance to us. In Soviet times, it served as a strategic transport route, and remains a direct line from Europe to Asia,” said Krasnoyarsk region governor Alexander Uss.