EU Calls Halt To Oil, Gas Exploitation In Arctic

The European Union called for an end to oil, coal and gas exploitation in the Arctic region to support the fight against climate change in its Arctic policy revealed on Wednesday.

The EU will "raise the profile of Arctic matters in the EU's external relations" with the objective of "a peaceful, sustainable and prosperous Arctic," the European Commission said in its newly announced strategy.

For this purpose, the European Commission will set up a representation in Greenland.

The document pointed out that the Arctic region is crucial for the bloc "in view of climate change, raw materials as well as geostrategic influence."

The strategy reiterates the importance of global responsibility and calls for a moratorium on oil, coal and gas exploitation ahead of the UN's upcoming COP26 climate change conference in Glasgow, Scotland.

"The Arctic region is warming three times faster than the rest of the planet," EU Commissioner for Environment, Fisheries and Maritime Affairs Virginijus Sinkevicius said at the news conference announcing the strategy.

Sinkevicius reminded that this phenomenon combined with the international race for natural resources in the Arctic could accelerate climate change even more and cause devastating effects for the entire planet.

The bloc also promised to channel funds for the green transition of the region.

The EU strategy aims at putting diplomatic pressure on the three big powers competing for the natural resources of the Arctic – Russia, China and the US. -