MOSCOW: More than 60% of revenues of the Arktikugol State Trust, which operates on the Spitsbergen archipelago, come from tourism and comme...
MOSCOW: More than 60% of revenues of the Arktikugol State Trust, which operates on the Spitsbergen archipelago, come from tourism and commerce, Minister for Development of the Far East and Arctic Alexey Chekunkov said.
"The state program envisages a subsidy for Arktikugol. In 2025, the trust managed to diversify the business - more than 60% of revenues come from tourism and commerce," he said at a meeting of the State Duma's Committee on Development of the Far East and Arctic.
The minister mentioned the operating direct cargo and passenger sea transportation between settlements of the Russian presence and Murmansk.
Russia has been operating on Spitsbergen for more than 90 years. The Arktikugol State Trust was founded in 1931. It produces 120,000 tons of coal per year. The company owns the territory of 251 square kilometers.
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