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New 'cold war' looms over Arctic resources

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New 'cold war' looms over Arctic resources


Russia’s claims to mineral riches in the Arctic must be defended President Dmitry Medvedev has said.

Speaking at a meeting in the Kremlin he warned that global climate change is likely to fuel arguments between nations seeking access to energy and other resources.

He condemned attempts by other Polar nations to freeze Russia out.

“Regrettably,” he said. “We have seen attempts to limit Russia’s access to the exploration and development of the Arctic mineral resources. That’s absolutely inadmissible from the legal point of view and unfair given our nation’s geographical location and history.”

The Arctic nations competing for those resources (Alaska USA, Canada, Denmark (Greenland), Norway and Russia) are in a race to claim vast untapped riches hidden beneath the ice as global warming opens up new shipping lanes making exploration viable.

In 2007 a mini-submarine planted the Russian flag on the Arctic sea-bed to stake Russia’s claim. The move was given a frosty reception by Canada and the US.

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