Russia Builds Out Arctic Oil Route As Middle East Tensions Escalate

This year will see a major push by Russia to ensure that the Northern Sea Route (NSR), which is vital for shipping minerals, oil, and liquefied natural gas (LNG) from its huge Arctic operations, remains fully functional all year round, according to a senior Moscow-based oil analyst exclusively spoken to by OilPrice.com last week. Given the hostile climate in the region, ships have been unable to sail at all during March, April, and May, and have struggled to do so at other times as well. This new impetus comes as Russia faces new sanctions…