Battle For Arctic Oil and Territorial Claims
- There are 5 countries with territory in the Arctic and now Russia, one of the 5, is looking at expanding its stake in the region beyond the 200-mile economic zone beyond its coastline that was set by UN convention. Russia initially filed its application to claim an extra 740,000 kilometers in the Arctic in 2001 but the claim was rejected. The country is set to file a new application after gathering more research findings to support its claim.
Territorial claims and disputes around the globe are increasing due to the economic implications of having territories with unexploited reserves of oil and gas. Russia is looking to expand its claims in the Arctic, a step Sergei Donskoy, the Minister for natural resources, calls “an application for the future” with very same intention to gain access to an estimated five billion tons of oil and gas. Of course, we can’t expect the 4 other nations to take this claim lightly. Canada is expected to file its own application to claim to the UN.
Read More At….
http://news.nationalpost.com/2014/10/31/russia-warns-its-coming-for-the-arctics-oil-including-an-area-canada-claims-as-its-own/
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Terry Smeader
Owner at Safety Protection Warehouse
Distributor of Nomex, Flame Resistant Safety Clothing and Arc Flash Protection.
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