Mr Ivanov said in his presentation that Russia plans to significantly increase the volume of oil and gas shipments via the Northern Sea Route in 2011. He also said that these products will be transported with Russian vessels, with the economic effect of the project reaching 30-40%.

Speaking about privatisation in 2011, the deputy prime minister said the government had resolved to sell its major assets including some in the banking and transport sectors. Ivanov made special note of the possible sale of Sovcomflot, a major shipping company with a modern commercial fleet of new ships.