Putin's $135B Arctic energy gamble aims to fund Ukraine war, shift LNG exports to Asia

Russia is advancing a $135 billion Arctic LNG and oil development program to sustain war financing and redirect energy exports toward China and Asia amid Western sanctions. The strategy leverages Arctic shipping routes and Chinese investment, but faces technical, financial, and climate-related risks. This underscores Russia's long-term economic pivot eastward and its reliance on energy revenues to fund military operations.