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The International Institute for Sustainable Development (IISD) submits a response to the European Union's Arctic policy consultation, urging the EU to maintain its moratorium on Arctic fossil fuel extraction and establish a phase-out timeline for imports from the region.

The International Institute for Sustainable Development (IISD) urges the European Union to maintain its moratorium on Arctic fossil fuel extraction and phase out imports from north of the Arctic Circle. The submission argues that Arctic oil and gas are too expensive (USD 75/barrel) and slow to develop (13+ years) to provide energy security, while posing severe ecological risks and increasing geopolitical vulnerability, particularly in the Barents Sea shared with Russia. IISD notes that this position aligns the EU with Canada and Greenland, who have implemented similar bans or moratoriums.