President Putin values Greenland at $1 billion.
On January 22, Russian President Vladimir Putin publicly commented for the first time on the US attempt to acquire Greenland. The Russian leader asserted that this is a bilateral issue between the US and Denmark, and estimated that the island could be worth around $1 billion based on historical precedents.
Speaking at a meeting of the Russian Security Council, President Putin made it clear that ownership of Greenland is not a concern for Moscow.
"What happens in Greenland is completely irrelevant to us. I think they (the US and Denmark) will resolve this issue among themselves," Putin emphasized, dismissing speculation about Russia's ambitions for the Arctic island.
This statement comes as US President Donald Trump, in Davos, Switzerland, has taken steps to de-escalate tensions, withdrawing threats of tariffs on Europe and pledging not to use force to seize the semi-autonomous island belonging to Denmark.
The most noteworthy point in Putin's statement was the way he valued the deal. The Russian president recalled historical precedents for territorial transactions: Russia sold Alaska to the United States in 1867 for $7.2 million, and Denmark sold the Virgin Islands to Washington in 1917.
Based on the price of the Alaska deal, after adjusting for inflation, calculating the difference in gold prices, and the larger size of Greenland, Putin estimated: "Buying Greenland from Denmark could cost around $1 billion."
He also jokingly remarked that this was a figure Washington could absolutely afford.
Observers believe that, despite Moscow's apparent detachment, the deep divisions between the US and Europe over Greenland could provide Russia with a certain geopolitical advantage in the Arctic region.
