European Union member states have agreed to increase investment in the Arctic amid a growing scramble for security advantages and vast natural resources. Labelling the Arctic a “geopolitical hotspot”, a Monday meeting involving 12 countries called for the EU to “take on a more strategic and proactive role in the European Arctic”, meeting participants said in a joint statement. The meeting, which featured the leaders of Finland, Denmark, Estonia, France, Greece, Germany, Latvia, Lithuania, the Netherlands, Poland, Romania and Sweden, focused on the race for influence over the Arctic as receding ice opens opportunities in the northern region.
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