FIIA Comment

FIIA Comment 16 (2014)   

Russian Arctic sanctioned:
Western measures against oil projects do not signify the geoeconomic importance of the region

Published 29.9.2014

Harri Mikkola & Juha Käpylä
The Finnish Institute of International Affairs

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The West has imposed sanctions on Russian Arctic oil projects. The sanctions are a reminder to Russia that it will need international cooperation in order to fulfil its own economic ambitions. However, the fact that the sanctions have hit the Arctic projects does not necessarily imply that the region is geoeconomically important, or that it ever will be.