In this handout photo taken from a footage released by Russian Defense Ministry Press Service on March 26, 2021, A Russian nuclear submarine breaks through the Arctic ice during military drills at an unspecified location. Russian President Vladimir Putin on Friday hailed the military's performance during recent Arctic drills, part of Moscow's efforts to expand its presence in the polar region. (Russian Defense Ministry Press Service via AP)
By Vladimir Isachenkov
Russian President Vladimir Putin on Friday hailed the military's performance during recent Arctic drills, part of Moscow's efforts to expand its presence in the polar region.
Navy chief Adm. Nikolai Yevmenov reported to Putin that the exercise has featured three nuclear submarines simultaneously breaking through Arctic Ice, and warplanes flying over the North Pole.
This week’s drills were conducted around Alexandra Land, an island that is part of the Franz Josef Land archipelago where the military has recently built a base.
Russia has prioritized beefing up its military presence in the Arctic region, which is believed to hold up to one-quarter of the Earth’s undiscovered oil and gas. Putin in the past has cited estimates that put the value of Arctic mineral riches at $30 trillion.
Russia, the United States, Canada, Denmark and Norway all have been trying to assert jurisdiction over parts of the Arctic, as shrinking polar ice opens new opportunities for tapping resources and opening new shipping lanes.
As part of its efforts to project its power over the Arctic, the Russian military has rebuilt and expanded numerous facilities across the polar region in recent years, revamping runways and deploying additional surveillance and air defense assets.
As part of this week's maneuvers, a pair of MiG-31 fighters flew over the North Pole, Yevmenov said. A Defense Ministry video featured them being refueled by a tanker plane.
The video also showed three nuclear submarines that smashed through the Arctic ice next to one another.
Putin noted that the exercise was unprecedented for the military and praised its skills. He added that the maneuvers also have proven the reliability of Russian weapons in polar conditions.
“I order to continue Arctic expeditions and research in the Far North to help ensure Russia's security,” Putin told the navy chief.
The Russian military has expanded the number and the scope of its war games amid bitter tensions in ties with the West, which have sunk to post-Cold War lows after Russia’s 2014 annexation of Ukraine’s Crimea.
Markets opened slightly higher to kick off the final trading week of the year as investors continue to watch the Omicron variant in the U.S. Sean O'Hara, President, Pacer ETFs joined Cheddar's Opening Bell to discuss what drove early market activity.
Carlo and Baker kick off the weirdest week of the year with all the news you missed over the holiday weekend, including calls for the CDC to shorten its isolation window as Omicron sweeps through the country.
Former professional tennis player Patrick McEnroe joined Cheddar to discuss the troubling issues surrounding player Peng Shuai who appeared potentially to have been silenced following her social media post accusing former Vice-Premier Zhang Gaoli of sexual assault. Shuai's subsequent disappearance, reappearance, and apparent retraction of the accusation in an interview only added to worries. "When this happened, all of us in the tennis community were very concerned. And, by the way, another thing Peng said in this interview was that she doesn't speak very good English," McEnroe noted. "Well I can assure you, she speaks darn good English, 'cause I spoke to her on many occasions over the last 15 years."
Universities like UCLA, Yale, and Duke have announced they're implementing remote learning amid the COVID omicron variant surge, despite President Biden recommending that K-12 schools should continue in-person education. Jared C. Bass, senior director for Higher Education at American Progress, joined Cheddar to break down what institutions of higher education might be considering differently. "I think some universities are allowing periods of a bit of a respite to allow students to get testing and make sure when they do return back to campus that they're healthy," he noted.
The S&P closed at a record at the major markets ended Thursday's session higher for a third straight day. Adam Coons, Portfolio Manager at Winthrop Capital Management, joins Cheddar News' Closing Bell, where he discusses what has investors feeling jolly before Christmas, and gifts investors with winning buying opportunities entering 2022.
The Supreme Court will hear arguments on President Joe Biden's vaccine mandates for large companies and health care workers on January 7, 2022. The mandates will remain in place until then.
Carlo and Baker cover the heartening news on the Covid front ahead of the holiday, plus President Biden punting student loan repayments again, a new space telescope and Love, Hate, Ate: Christmas Eve Eve Edition!
This year's worldwide semiconductor shortage limited the supply of everything from new cars to smartphones; and now, many in the chip industry expect the shortage to continue deep into 2022, and maybe even 2023. Semiconductor senior research analyst for Robert W. Baird & Co., Tristan Gerra, joins Cheddar News' Closing Bell to discuss.
