Over the last decade, the Arctic region has reappeared on the international radar. Due to global warming and a literally melting Arctic Ocean, the region’s resources and maritime transportation opportunities have attracted the interests of stakeholders from within and outside the circumpolar North. It was assumed that increased international attention would change the geostrategic dynamics in the region and eventually lead to major power competition over regional resources, power and authority. Yet, during the period the Arctic states have strengthened the regional governance framework and effectively cooperated on a multilateral level. Also, an initially generated hype over the region’s economic opportunities could not stand up to scrutiny and a globalised reality check.
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