Denmark Steps Up Competition To Claim The North Pole

Russian Flag Under Arctic SeaThe Russian flag currently at the North Pole

Photo: AP Photo/Association of Russian Polar Explorers

Danish officials announced plans on Monday to extend their present Arctic seabed claim to include th North Pole, reports Hurriyet Daily News.The plan would mean extending their current ownership of seabed to the North of Greenland, a self-governing dependency of Denmark.

The move comes after speculation grew that Russia was hoping to annex 380,000 square miles of the Arctic seabed. Since 2007, Russia has a flag placed at the North Pole seabed, though it is disputed.

Both Canada and Russia are said to be beefing up their Northern militaries in what is expected to be a heated land grab.

The reason? The Arctic seabed is thought to contain 13 per cent of the world’s untapped oil reserves, of course.

NOW WATCH: Briefing videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.