REPOST: ❄️Frozen out of a warming Arctic🔥
DEEP DIVE: Is Russia losing its grip on Arctic energy resources?
It is hard to overstate the importance of the Arctic to Russia. Moscow lays claim to the lion’s share of the region’s immense energy and natural resources, and exploiting them is an overarching economic priority for Russia. Thawing permafrost and receding sea ice would seem to make this easier, but new risks abound. Now war in Ukraine is choking off the money and technology Russia needs to extract its Arctic bounty — with far-reaching implications for governance of this coveted territory, and the global balance of power.
**This article was first published in May 2022, and reposted in December 2023**
The Arctic and Antarctica are the world’s two last great fossil fuel frontiers. Governance — or lack thereof — differentiates them. The Arctic is not protected from drilling by international treaties and already supplies a significant chunk of the world’s energy and raw materials: about one tenth of global oil and a quarter of natural gas consumption.
The Arctic is a trove of natural resource…