A revival of the Cold War era?
By the end of the Cold War, regional claims in the Arctic Circle had started to fall apart. First of all, the Western World did not have to compete anymore with the Soviet Union over military presence in geostrategic locations all over the world including the Far North. Another important parameter was the cold weather that was making vast areas of ice covering the North Pole difficult to reach, which had put off potential investment plans.
This period of idleness and the absence of military activity in the Arctic was yet to be interrupted by the latest global warmth. With the Arctic ice melting at a much more accelerating pace compared to the rest of the world, a previously inaccessible region is now becoming easier to reach and explore. According to NASA, the Arctic sea ice is dropping by nearly 13% per decade, reaching its lowest point in 2012.
As expected, more countries have started to reconsider their national strategy in the Far North; aiming to exert control over the Arctic natural resources including hydrocarbon reserves, fish and minerals.
