| Summary/Abstract |
In the post-Cold War era the countries bordering the Arctic have not secured a framework security treaty for operations in that extreme northern region. While attempting not to miss the considerable potential economic advantages, the Arctic nations have been careful to maintain a well-functioning cooperation mechanism and ensure favorable conditions for developing and investing in the region. However, the existing mechanism has failed to prevent negative global trends from affecting the region. The sanctions imposed by the United States and the European Union on investment and the transfer of technologies to Russian oil and gas companies engaged in mineral prospecting and extraction have created a spirit of rivalry in the Arctic between the East and the West.
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