"Russia Resubmits Claim for Energy-Rich Arctic Shelf"

"MOSCOW -- Russia said on Tuesday it has resubmitted a claim to the United Nations for some 1.2 million square km of the Arctic shelf, a drive to secure more of the mineral-rich region where other countries have rival territorial interests.

The Russian economy is overwhelmingly reliant on natural resources and the Arctic's estimated huge oil and gas reserves are expected to become more accessible as climate change melts and ice and technology advances.

This prospect has attracted other nations, including Norway, the United States, Canada and Denmark while international energy companies are planning large drilling campaigns."

Gabriela Baczynska reports for Reuters August 4, 2015.

Source: Reuters, 08/05/2015