As global warming and melting of the ice is making the Arctic increasingly accessible, the region’s hydrocarbon riches are attracting international interest. Thus far, despite the presence of vast untapped energy and mineral resources, the Arctic is not considered a geopolitical hotspot. In fact, many of the Arctic states have dismissed the possibility of conflict over the region’s spoils due to the collaborative governance model that has been established.
Need to revive Iran-India energy ties
The possible lifting of the sanctions on Iran will lead to a rush for a share of the lucrative Iranian energy pie similar to Myanmar’s opening up last year. India cannot afford to be left behind.