The Arctic region has been an area of low tension since the end of the Cold War. This observation is important because the run on hydrocarbons in the Arctic has not resulted in increased rivalries as expected. The outcomes have been international joint ventures in oil and gas project on the economic side and a strengthening of Arctic governance in the political realm. Since 2014, the situation has changed rapidly. Economic interests in hydrocarbon development are increasingly diverging between the five Arctic coastal states. The geopolitical situation between Russia and the West after the annexation of Crimea and military conflict …read more
Source: German Institute for International and Security Affairs