Russia threatens to seize swathe of Arctic.

Ivan seems intent on riling the West at present. More punchy rhetoric from Russian President Medvedev. He has told a meeting of the Security Council “We must finalise and adopt a federal law on the southern border of Russia’s Arctic zone” adding This is our responsibility and simply our direct duty to our descendents. We must surely, and for the long-term future, secure Russia’s interests in the Arctic.” Global warning has made vast natural resources more accessible in the region and galvanised the likes of Russia, Canada, Denmark, Norway and U.S.A. to stake their claims in the disputed region. Looks like an accident waiting to happen. This sort of rhetoric is only going to exacerbate the situation in Russian markets as foreign investment takes flight.