The Arctic region, with its diverse natural resources, boasts the planet’s greatest untapped economic potential and is drawing the keen interest of the world’s top political powers, many of which are included in the eight-member Arctic Council. Its strategic military location is also attracting attention as the second Cold War intensifies.
The US Congress disclosed on 20 December the government funding legislation for 2023, the defence budget of which includes an allocation of USD225 million as part of the Baltic Security Initiative, which is larger by USD45 million, or 20 per cent, than in 2022.
The US Congress disclosed on 20 December the government funding legislation for 2023, the defence budget of which includes an allocation of USD225 million as part of the Baltic Security Initiative, which is larger by USD45 million, or 20 per cent, than in 2022.