EU revises Arctic strategy toward security while opposing new drilling
The European Commission's new Arctic strategy shifts focus from long-term climate concerns to security amid pressure from Russia and the US. It reaffirms EU opposition to Arctic oil and gas development, even as gas storage is depleted and prices near 2022 crisis levels.
Why it matters
The strategy sets EU policy for a region where shipping, resources and military activity are growing.
Background
Melting ice is opening Arctic shipping routes, and Russia's oil exports via the Northern Sea Route have risen. Several EU members have Arctic territory.
Sources
- Al Jazeera ↗Oct 20, 4:05 PM ET
- OilPrice ↗Oct 20, 1:45 PM ET
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