IKBFU's Vestnik

2020 Issue №02

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Legal regulation of activities in the Arctic in the context of sanctions

Pages
5-12

Abstract

The article explores the sanction factor impact on the legislative frame­work regulating Russian and European joint economic activities in the Arctic. The fundamental documents on the joint projects with the European Union get analyzed in the context of the sanction factor. The paper focuses on chang­es in the legislative framework for Russian — EU joint activities, as well as relevant restrictions. The author concludes that the sanction factor is hardly affective as the main restrictions are imposed on the offshore oil production sector, which cannot yet be developed effectively due to its high cost. The con­sidered measures do not seriously challenge any other economic areas, allow­ing the joint projects develop at almost the same level. According to the au­thor, the influence of the sanction factor is exaggerated, which means further joint activities of Russia and the EU may have the same prospects.