MOSCOW (Sputnik) – On Friday, the leaders of Denmark, Finland, Iceland, Norway and Sweden met with US President Barack Obama in Washington to attend the US-Nordic Leaders Summit.
“We will work towards the highest global standards, best international practice, and a precautionary approach, when considering new and existing commercial activities in the Arctic, including oil and gas operations,” the countries said in their joint declaration Friday.
The countries affirmed their commitment to safeguarding "the Arctic environment while providing enhanced opportunities for sustainable development for all inhabitants of the Arctic, including indigenous peoples."
The Arctic shelf is believed to hold huge deposits of hydrocarbons. Russia has been laying claim to deposits within its offshore border areas, as have the United States, Canada, Norway and Denmark.
