Russia preparing to beat Canada in race for Arctic resources – by Eugene Gerden (Resource World Magazine – November 9, 2020)

https://resourceworld.com/

Russia plans to beat Canada and the US in the race for Arctic hydrocarbon resources by establishing control of over 60% of them via recognition of its right to the Lomonosov Ridge by the special UN Commission which may take place as early as 2021.

According to earlier statements by Dmitry Medvedev, a member of the Russian Security Council, Russia is planning to “more vigorously defend its claims for the development of Arctic mining fields” amid the attempts of rivals to limit its access to these resources.

Needless to say, the main interest of Russia in the Arctic is related to the Lomonosov Ridge, an underwater ridge of continental crust under the Arctic Ocean that spans 1,800 km from the New Siberian Islands over the central part of the ocean to Ellesmere Island in the Canadian Arctic Archipelago and which, in addition to Russia, could also be considered as an attractive region by Canada and Denmark.

Most analysts believe Russia’s policy in the Arctic can be seen as expansionist. The country’s desire to strengthen its position in the region is also demonstrated by its political maneuvers in the past.

Several years ago Russian President Vladimir Putin visited Franz Josef Land about 1,000 km from the North Pole. According to analysts, he was probably emphasizing that this resource-rich region belongs to Russia.

For the rest of this article: https://resourceworld.com/russia-preparing-to-beat-canada-in-race-for-arctic-resources/

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