Key points
- Washington, Moscow have repeatedly identified the Arctic as a possible area for cooperation
- The discussion is at an early stage: Bloomberg
- Climate change is opening up the Arctic and creating access to oil and gas resources
WASHINGTON: United States (US) and Russian officials have identified the Arctic as a possible area for economic cooperation, according to Bloomberg.
The newspaper cited the people familiar with the situation as saying that the discussions have included natural resources exploration and trade routes. The Bloomberg reported that the discussion is at an early stage. Bloomberg reported that cooperation over energy exploration is also seen as a goal by the US.
According to media reports, the Arctic, encircled by Russia and seven NATO members — the US, Canada, and the Nordics Denmark, Finland, Iceland, Sweden, and Norway — has drawn increasing attention in recent years as melting ice from climate change opens up shipping lanes and the possibility to explore for potential energy and mineral resources.
Trump has recently pursued an end to the war in Ukraine, including direct talks with Russia’s President Vladimir Putin. Both sides have recently signalled that they are open to business ventures and cooperation.
Oil and gas resources
AFP reported that thawing ice caused by climate change is opening up the Arctic and creating access to oil and gas resources, in addition to minerals and fish.
There is equipment designed to filter salt water from ice floes, and tents made for temperatures of -50 degrees Celsius (-58 degrees Fahrenheit).
According to AFP, climate change has made the Northwest Passage increasingly accessible to ships for navigation during summer months.
That promises to shorten voyages from Europe to Asia by one to two weeks, compared to the Suez Canal route.
Increased traffic, including among cruise ships, has compelled Canada to boost its capacities in the region to respond to accidents or emergencies.
In Yellowknife, training is being stepped up to prepare for a range of significant events, including how to respond to a fall into icy waters.
