US and Russia discuss joint exploitation of natural resources in the Arctic

According to RIA Novosti on February 27, Bloomberg reported that the US and Russia are considering the Arctic as an area for economic cooperation, including joint exploitation of natural resources and development of trade routes.

“Discussions include developing natural resources and trade routes,” Bloomberg wrote, citing a person familiar with the matter who said the talks were confidential and still in their early stages.

According to Bloomberg, cooperation in the energy sector is also considered one of the top priorities of the US. Negotiations on this issue are taking place in the context of US President Donald Trump's efforts to resolve the conflict in Ukraine. In this context, both sides are showing their readiness for economic cooperation.

One of the sources told Bloomberg that Washington sees cooperation with Moscow in the Arctic as a way to weaken Russia’s ties with China in the region. However, observers say achieving that goal will be difficult because Moscow’s relationship with Beijing has “significantly strengthened” in recent years.

Earlier, Russian President Vladimir Putin said that Moscow is ready to provide Washington with opportunities for cooperation in the field of rare earth minerals, including in new areas.

Kremlin press secretary Dmitry Peskov clarified that Russian-American economic cooperation projects will be possible after the conflict in Ukraine is resolved.

The Kremlin also noted that Moscow has its own plans for developing strategic resources, but this opens up quite broad prospects for cooperation.

US President Donald Trump later said he supported the idea of ​​a deal with Russia on access to rare earth resources.