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  • 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.

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    International Institute for Sustainable Development

    Document type: Statement

    Regions: European UnionArctic
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