There is no doubt that one of the major challenges of the 21st century is climate change. For most countries, global warming is a serious threat. However, Russia has found opportunities in terms of climate change and the gradual decline of the Arctic ice sheet.
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Moscow’s Arctic strategy aims to provide the Eurasian country with advantages in energy and defense, while promoting the North Sea route as an alternative shipping route.
Russia has huge oil and gas reserves in the Arctic. Technically, the Arctic has 90 billion barrels of oil and 47 trillion cubic meters of natural gas, with Russia accounting for 48 billion barrels and 43 trillion cubic meters, respectively. This is equivalent to 14% of Russia’s total oil reserves and 40% of its total natural gas reserves.
Despite global warming, harsh weather conditions in the Arctic require specialized infrastructure to extract oil and transport it to consumers.
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Russia regards the Arctic as a strategic region and is willing to make major investments there to gain its largest and most important share. Moscow supports its claim that the crustal structure of the Romonosov Ridge corresponds to the Russian continental shelf nearby, so Russia has the sole right to exploit most of the Arctic region. To this end, the Arctic research vessel was dispatched to the area in 2007.