EU Aims to Pursue Arctic Policy of Engagement With Regional, World Powers

The European Union aims to continue constructive cooperation with major regional and global powers in the Arctic, EU foreign policy chief Federica Mogherini said unveiling a three-pillar integrated Arctic policy Wednesday.

BRUSSELS (Sputnik) – Introducing the environmental, economic and social, as well as foreign and security policy areas of the EU’s role in the Arctic, Mogherini highlighted the region as "the only place in the world where three continents and major players in the world meet."

"So we will continue to work with all relevant players, engaging with each of them, meaning with all the countries that have territories in the Arctic, but also other global players that have increased interest in the Arctic, such as China for instance, or other Asian actors, including also the potential of connectivity through the Arctic of different routes," she told reporters.

The Arctic presents a "good example of constructive cooperative regional and international approach," the diplomat underscored.

"It is with key interests of the European Union and of the European citizens to make sure that the constructive international cooperation there is maintained and even increased, and that the European Union is part of that," Mogherini added.

The Arctic shelf is believed to hold enormous deposits of oil and natural gas. Five countries bordering the area are particularly interested in the wealth of the Arctic region, including Russia, the United States, Canada, Norway, and Denmark.

The European Commission director for international affairs and director general for maritime affairs and fisheries, Stefaan Depypere, told Sputnik last fall that Brussels planned to invest 200 million euros ($225 million at the time) in researching the Arctic in the next decade.