Russia to stake a claim on Arctic: Minister

The Russian government is preparing a bid to present to the United Nations, which if approved would allow Russia to include part of the Arctic seabed into its economic zone. The area in question is the Lomonosov underwater ridge.

Russia's Ministry for Natural Resources believes a recent scientific mission, ‘Arctic 2007’, was able to gather all the necessary data to prove the area is an extension of its territory.

The 1,2 million square kilometers territory is believed to be rich in oil and gas reserves, estimated at 5 billion tonnes.

The Natural Resources Minister, Yuri Trutnev, says the claims will be guided by international law.

“I don’t think that we can start developing this area without an agreement with other countries, as this territory lies beyond Russia’s borders. We need to send an official request to the UN providing proof that the area is an extension of Russia’s continental shelf. After this years research activities we’ve received the result which allow us to make such request,” Mr Trutnev explained.