U.S. and Russia Eye Arctic Cooperation as Climate Change Opens New Trade Routes

The United States and Russia are exploring potential economic cooperation in the Arctic, including natural resource exploration and the use of emerging trade routes, Bloomberg reported on February 26, citing sources familiar with the discussions.

According to the report, officials from both countries see the Arctic as a promising region for economic engagement.

“Both sides have signaled they’re open to cooperation, which has raised concerns among European and NATO allies seeking to isolate Moscow since its full-scale invasion of Ukraine three years ago,” Bloomberg noted.

As climate change accelerates ice melt in the Arctic, new shipping lanes and previously inaccessible natural resources have drawn increasing global interest.

Kirill Dmitriev, head of the Russian Direct Investment Fund, said after U.S.-Russia talks in Saudi Arabia on February 18, that energy projects in the Arctic were among the “specific areas of cooperation” discussed.

A source familiar with the talks told Bloomberg that the U.S. sees Arctic cooperation as a way to weaken Russia-China ties, though they expressed skepticism about the strategy’s effectiveness.

In recent years, Moscow and Beijing have strengthened their partnership, particularly after declaring a “no-limits” alliance following the start of Russia’s war against Ukraine.

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The Arctic has become a growing focus of geopolitical competition. While Russia controls vast Arctic territory, the region is also surrounded by NATO members, including the U.S., Canada, and the Nordic countries.

China has also expanded its Arctic ambitions, branding itself a “near-Arctic state” and investing in shipping, energy, and infrastructure projects as part of its “Polar Silk Road” strategy.

Earlier, the Kremlin proposed a deal on Russian natural resources to the administration of U.S. President Donald Trump. Moscow believes that American oil companies could return to Russia and has expressed interest in joint Arctic projects with the U.S.

“We believe that at some point, they will return. Why would they turn down access to Russian natural resources, which Russia has offered them?” Dmitriev stated, adding that major U.S. oil firms previously had “very successful business” in Russia.