Russia: Meeting Over Artic Oil!


Remember a while back when Russia upset the world by planting a flag under the North Pole at the Seabed? No! Well to refresh your memory here are my articles on the subject….
Officials from the five nations with Arctic coastlines are meeting in Greenland for talks on the territorial status of the polar region. According to geologists, up to 25 % of the world’s oil and gas reserves could be buried under the ice. The controversy over exploration rights intensified last year after a Russian research vessel planted a flag on the sea-bed at the North Pole. (Link)

Russia, Canada, Denmark, Norway and the U.S. all claim rights over the Arctic. All own a part of the region, but each is vying for the area that lies beyond.

The UN Convention on the Law of the Sea has the ultimate say over issues concerning continental shelf borders. It says a country’s shoreline can be extended if the sea bed is a continuous part of the continent.

Last year Russia became the first country to plant its flag at the bottom of the Arctic Sea at the geographical North Pole. However, Russia’s Foreign Minister, Sergey Lavrov, said on Monday in Denmark that this doesn’t mean Moscow is about to claim the area as its own.

Looks like Russia was on to something & made sure that they caused a little stink over it……

That is another reason why I like Russia.

Kyle & Svet

comments always welcome.