News of Russia's training for military operations and plans for oil drilling in the Arctic indicate Moscow continues to stake its future on aggression and wealthy oligarchs. Neither will stem volatile oil prices, which dropped to the $43-$44 a barrel range June 26-27, 2017, or unlock the sanctions, imposed after Russia invaded Ukraine in 2014, that block the import of drilling and fracking equipment needed to exploit the Arctic's oil and gas.
Nor, it seems, is Russia positioning itself to take advantage of the new commercial Northwest Passage opportunities climate change brings to the Arctic Ocean, such as voyages of cruise ships like the Crystal Serenity that carried 1,700 passengers and crew from Alaska to New York in the summer of 2016.
To catch up on the race for the Arctic, see the earlier posts, "North Pole Flag" and "Iceland Gives China the Cold Shoulder."
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