Russia Invested $4 Million into Arctic Research

• 05.11.2015, 19:09
•  Region,  World

Prime Minister of Russia Dmitry Medvedev signed a decree allocating over $4 million to invest in North Pole operations in the Arctic, Sputniknew reports.

Russia is allocating a subsidy from the federal budget in order to resume national expeditionary research in the Arctic. The issue is that the investment will encourage stabilization and expansion of Russia’s activities in the world ocean.

The signed document stated the key factor of Russia’s presence in the Arctic region, which gives priority to the country for comprehensive exploration of activities. The most important issue is that the Arctic shelf could have huge deposits of oil and natural gas, which interests also other four Arctic nations- Canada, the U.S., Norway and Denmark.