Russia approved Friday the project to build highway around the entire coastal line of the Black Sea for the amount of USD 1 bln.

In April 2007, the Ministers of Foreign Affairs of the member states of the Organization for Economic Cooperation of the Black Sea signed, in Beograd, a Memorandum of Understanding for the construction (unification) of the above mentioned motorway.

The Ring Highway is 7.000 km long and has vertical axis to Azerbaitzan, Serbia and Albania. Subject to the completion of its final alignment, many of its parts will coincide with sections of well known European axes.

It is noted that, according to the Memorandum of Understanding, it has been initially decided that the Ring Highway will pass through the following cities:

Istanbul (Turkey), Samsun (Turkey), Trabzon (Turkey), Batumi (Georgia), Poti (Georgia), Yerevan (Armenia), Baku (Azerbaijan), Novorossiysk (Russia), Rostov-on-Don (Russia), Taganrog (Russia), Mariupol (Ukraine), Melitopol (Ukraine), Odessa (Ukraine), Chisinau (Moldova), Bucharest (Romania), Constantza (Romania), Haskovo (Bulgaria), Sofia (Bulgaria), Nish (Serbia), Belgrade (Serbia), Tirana (Albania), Edirne (Turkey), Komotini (Greece), Alexandroupolis (Greece), Istanbul (Turkey).