The Ministry for the Development of the Russian Far East and Arctic is studying current trends to develop a geological research program on the Arctic region.

"Today we are developing a long-term program for geological research of the Arctic, in this sense: we understand that in the future not all the resources the Arctic has today will be needed by the global economy and it is stupid to invest today in natural resources that may not be needed in 10-15 years," said Deputy Minister Alexander Krutikov at an online seminar of the Valdai international discussion club.
Krutikov stressed that climate change in the Arctic was not just an environmental problem but also an economic one.
"The recent events in Norilsk, according to expert assessments, <…> degradation of the permafrost is one of the main causes. This is a problem, and not just an environmental problem but also a major economic one," he concluded.
The deputy minister added that the Ministry for the Development of the Russian Far East and Arctic was appointed the responsible agency for the development of a plan to help the Arctic adapt to climatic change.
"We have formed a group of over 30 leading Russian scientists working on various aspects of climate change and regard this task as above all an economic task. The potential damage of climate change to the Russian economy is definitely underestimated today. We are continuing to work on this issue from this point of view," Krutikov said.