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Under international law, no country currently owns the North Pole or the region of the Arctic Ocean surrounding it. The five surrounding Arctic states, Russia, the United States, Canada, Norway and Denmark (via Greenland), are limited to a 320 kilometre (200-mile) economic zone around their coasts, and the area beyond that is administered by the International Seabed Authority.
Upon ratification of the United Nations Convention on the Law of the Sea, a country has a ten year period to make claims to extend its 200 mile zone. Norway (ratified the convention in 1996), Russia (ratified in 1997), Canada (ratified in 2003) and Denmark (ratified in 2004) have all launched projects to base claims that certain Arctic sectors should belong to their territories.
"Look, this isn't the 15th century. You can't go around the world and plant flags and say, 'We're claiming this territory'," Foreign Minister Peter MacKay told broadcaster CTV.
Originally posted by intrepid
BTW folks, if you think Russia is done as a world power, you are very much mistaken.
Despite modern Russia being an open State, well integrated onto the world stage, atlantists insist in considering it as the former Soviet Union and try to isolate it. Following this logic, Washington is proceeding with the enlargement of NATO in spite of its own commitments, and undertaking the deployment of new missile systems in Europe. In this article, drafted specially for Foreign Affairs magazine but later rejected by its editorial board, Russian Foreign Affairs Minister Sergey Lavrov calls on United Staters to renounce the Cold War renewal and suggests finding new regulation mechanisms within a USA-Russia-EU tripolar world. Here is the full, uncensored paper.