Russian Security Council Points To Risks Related To Foreign Investment In Arctic Projects

Large foreign investments in Russia's projects in the Arctic can carry the risks of Western pressure on Russia, it is important to thoroughly study the associated threats to national security, Russian Security Council First Deputy Secretary Yury Averyanov said in an interview with Sputnik

MOSCOW (UrduPoint News / Sputnik - 11th May, 2021) Large foreign investments in Russia's projects in the Arctic can carry the risks of Western pressure on Russia, it is important to thoroughly study the associated threats to national security, Russian Security Council First Deputy Secretary Yury Averyanov said in an interview with Sputnik.

"The economic sanctions imposed on Russia and the lack of necessary investment in Russian companies have resulted in a delay of the launch of many planned projects in the Russian Federation's Arctic zone. All this has a negative effect on the prospects of the Arctic shelf development and the modernization of the port, energy and social infrastructure," Averyanov said.

Given the objective lack of financial resources, Russian companies have to attract foreign investment, the security council official explained.

"At the same time, significant volume of foreign investments results in the emergence of certain risks, such as the growth of economic or technological dependence, which in turn can be used as a pressure instrument. In addition, attraction of foreign technologies or placement of orders for the implementation of Russian projects at foreign enterprises limits the possibilities of developing our own technological base," Averyanov continued.

In order to prevent the emergence of such risks, to protect national interests, and to support Russian investors and manufacturers, it is important to thoroughly study the threats to national security associated with foreign companies' participation in the implementation of large investment projects aimed at Arctic development, Averyanov concluded.