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not going to change banks’ behavior: <strong>the</strong> chances <strong>of</strong> being caught are<br />

relatively small and <strong>the</strong> potential pr<strong>of</strong>its from accepting dodgy clients are<br />

too big. Fines are seen as a cost <strong>of</strong> doing business.” Read More<br />

The Great Game in <strong>the</strong> Arctic<br />

by<br />

Frederik Ohsten<br />

Climate change, melting icecaps and new opportunities for access to<br />

valuable resources have reawakened a struggle for power in <strong>the</strong> Arctic.<br />

The Great powers are jockeying for control <strong>of</strong> <strong>the</strong> region.<br />

On <strong>the</strong> 6 th <strong>of</strong> August 2012, Russia announced that it plans to build a<br />

string <strong>of</strong> naval infrastructure hubs along <strong>the</strong> Arctic's Nor<strong>the</strong>rn Sea Route.<br />

According to <strong>the</strong> report, Security Council chief Nikolai Patrushev<br />

confirmed that, “[A]uthorities have drafted a list <strong>of</strong> 'key double-purpose<br />

sites in remote areas <strong>of</strong> <strong>the</strong> Arctic seas along <strong>the</strong> Nor<strong>the</strong>rn Sea Route' to<br />

enable <strong>the</strong> 'temporary stationing <strong>of</strong> Russian Navy warships and vessels<br />

operated by <strong>the</strong> Federal Security Service's Border Guard Department'”.<br />

This is just one <strong>of</strong> <strong>the</strong> latest incidents <strong>of</strong> sabre-rattling in <strong>the</strong> Arctic<br />

region. Canada and <strong>the</strong> United States are also involved in this struggle for<br />

control <strong>of</strong> this strategic region. So are smaller states such as Norway and<br />

Denmark. A relatively new development is <strong>the</strong> entry <strong>of</strong> China on <strong>the</strong> stage.

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