Russia set to establish Arctic state corporation
© RIA Novosti. Alexey Nikolskiy

Russia set to establish Arctic state corporation

Several members of the Russian State Duma, the lower house of parliament, are drafting a concept for the development of Arctic territories and a legislative package on establishing a state corporation.

"To achieve success in the Arctic, we need to create a special economic and administrative environment above the Arctic Circle, and the Arctic should receive the status of a separate territory," State Duma deputy Alexei Zhuravlyov told Izvestia.

He said work on the documents would start this autumn. "We will establish expert groups to draft the legislative package. Their proposals will subsequently be discussed at an international forum in Arkhangelsk, The Arctic — Territory of Dialogue, after which we'll be ready to submit the finalized proposals to the State Duma," he noted.