"Russia, the largest oil producer of the five, gets nearly half of its Gross Domestic Product (GDP) from oil exports, a level comparable to Saudi Arabia. As a result, Putin perceives fossil fuels as vital to Russia’s economy and political stability. However, the extreme Arctic climate, characterized by unpredictable weather patterns, heaving sea ice, sub-zero temperatures, dense fog, and darkness half the year, requires specialized equipment. Russia holds a technological advantage over the other Arctic countries because it has already invested in 20 icebreakers, while Canada has 12 and the United States only one. Russia signed a deal with British Petroleum last month to explore the Arctic. Therefore, Russia is currently leading the extractive assault."
from foreign policy in focus...
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