Moscow: World`s leaders have gathered in Moscow to discuss the political, economic and environmental issues affecting the Arctic region. It is believed that around a quarter of the world`s resources of rich oil and gas deposits lies beneath Arctic sea.
The Russian Geographical Society hosts the forum, entitled "The Arctic: Territory of Dialogue", on September 22-23 will be headed by Russian Prime Minister Vladimir Putin.
Russia, the United States, Canada, Denmark and Norway have earlier claimed to capture some parts of the Arctic. In the delegation, experts from different nations will discuss cooperation and are also likely to push their claims to the Arctic`s riches.
Due to the shrinking of polar ice caps, the arctic region’s resources are becoming highly accessible. Russia first laid claim to the Lomonosov Ridge and the Mendeleev Ridge under the Arctic Ocean in 2001, but the United Nations rejected it due to lack of evidence to support the claims.
According to the reports, the adjusted Russian claim for the Arctic shelf is expected to be prepared by 2013. Russia erected a titanium flag on the ocean floor beneath the North Pole as a gesture of Moscow`s ambitions.
Russia has said it will invest some 1.5 billion rubles ($50 million) in defining the extent of its Arctic continental shelf in 2010. Meanwhile, Canada and Denmark have also also planned to submit separate files to the UN.