Russia to stick to the rules on Arctic shelf
Russias First Deputy Prime Minister Sergey Ivanov today criticised several cabinet colleagues for failing to settle the external borders of the Russian Arctic shelf. At the same time he highlighted that Russia always has observed international law in the area.
Talking at todays session in the Marine Board, Mr. Ivanov, highlighted that the political aspects of developing the Arctic shelf are now less important than the economic aspects of such a development. -Afterall, the legal rights of Russia at the shelf will extend the territory of our Motherland, he stressed. The mineral resources at the shelf are considered to be enormous. Head of oil company Rosneft, also a participant in the Marine Board, said that he believes up to 61 trillion RUB will be invested in the area by 2050. Minister of Natural Resources Yuri Trutnev at the board meeting said Russia by 2011 will spend about 1,5 billion RUB on studying the Arctic shelf.
