The authors focus on the Northern sea route of Russia, which is considered as a transcontinental Euro-Asian sea transport corridor. It is emphasized that the Arctic is not only a reliable source of energy security of Russia, but also an important geostrategic region. In this regard, the Northern sea route will be modernized even if the Chinese idea of the "Polar silk road" is not implemented at all. The role of China in the development of the transit highway project, which remains a reserve of the international transport system, is analyzed. There are some high expectations of Russia from the project, as the neighboring country is extremely cautious in its implementation, investing capital mainly in mining. In addition, there is a fear that the declared principles of the project implementation will lead, if not to the complete displacement of Russian business, then to a sharp weakening of its positions. This point of view is confirmed by the policy of Chinese investors to exercise strict control over the emerging transport arteries. Among the vulnerable points of the silk road project implementation are severe natural conditions, restrictions of the navigation season, insufficient capacity of the icebreaker fleet, economic sanctions of the United States and Western Europe, as well as the difficulties of creating a modern transport infrastructure along the sea route.