Putin Confident Russia Will 'Develop the Arctic'

Putin is confident that Russia will 'develop the Arctic.' According to the President, the center of economic development is gradually shifting eastward and northward. Russia will 'develop the Arctic,' where key mineral resources are concentrated. This was announced by Russian President Vladimir Putin during the plenary session of the St. Petersburg International Economic Forum.

"Western Siberia has traditionally been developing since Soviet times, referring to the mineral resources that the entire country still benefits from," he said, noting that the center of economic development is gradually shifting eastward and northward.

"If it was previously said that Russia would develop Siberia, it can now be said that Russia will also develop the Arctic since we have major mineral resources there. They are still complex and expensive to develop, but nonetheless, it is a very large prospect. In fact, we are doing just that," he added.