Media, research literature, workshops, and political meetings over the past years have had a surprisingly rich, and partly under informed by fact, debate on race for resources and possible conflicts in the Arctic. This paper takes a careful look at UN Law of the Seas, Article 76 which regulate rights to the seabed outside exclusive economic zone for the Arctic Basin. It is evident that the Arctic will in future include seabed not under jurisdiction by any of the coastal states, but all area with expected major resources is already, or will become unquestionably under control by one of the coastal states. It is also evident that any potential territorial disagreements will be about relative small areas, and these areas have very low expectation for major resources.

Tags: Arctic oceans