Russia Leads Arctic Oil Race at Oil Change

Russia Leads Arctic Oil Race at Oil Change

Three years after Russian divers thrust a rust-proof flag into the seabed below the North Pole, the country’s Prime Minister, Vladimir Putin, will attend the Arctic Forum in Moscow today.

Putin wants to stake Russia’s claim in the increasingly frantic battle for control of the Arctic’s resources.

Ironically the more the ice melts through climate change the more the region is opened up for oil and gas exploration.
While Russia counts for the bulk of Arctic land, seven other states have land in Arctic territory: Canada, Denmark, the United States, Iceland, Norway, Sweden, and Finland.

Of these tive nations– Russia, Canada, Denmark, Norway and the US – are all claiming jurisdiction over parts of the region.