Russia renews bid for Arctic regions

Russia has renewed its efforts to get the United Nations (UN) recognition for 1.2 million square kilometers of the Arctic shelf region which it claims to be its sovereign territory.
In this regard, Russia has forwarded its fresh bid to UN Commission on the Limits of the Continental Shelf backed by scientific data.
However all other 4 countries bordering the Arctic viz. Norway, Denmark, Canada and the US have rejected Russia’s claim.
It should be noted that earlier in 2001, UN had rejected Russia’s similar claim over the resource rich territory on the northern tip of Earth because of insufficient evidence.

Background of Territorial dispute over Arctic

There is territorial dispute between all 5 countries bordering the Arctic over its energy rich potential which is believed to hold up to a quarter of the world’s undiscovered oil and gas.
These 5 countries claiming their own sovereignty over this region are Denmark, Canada, Norway, US and Russia. Since 2008 this issue is still pending and yet to be settled under the United Nations Convention on the Law of the Sea.

Month: Current Affairs - August, 2015