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.
Pfizer has asked the FDA to expand authorization of COVID booster shots for all adults. The agency is expected to grant the request in the coming weeks, allowing vaccinated Americans as young as 18 to get boosted before the holidays. Dr. Bayo Curry-Winchell, Regional Clinical Director at Carbon Health, joined Cheddar to discuss.
The Justice Department has filed a lawsuit to block Penguin Random House from acquiring its rival Simon & Schuster. The DOJ hopes this will block the merger, which it says would ultimately hurt authors and consumers nationwide. Barry C. Lynn, executive director of the Open Markets Institute, joined Cheddar to explain what the lawsuit signals about the Biden administration's approach to cracking down on antitrust, and why Amazon might be next.
The major markets took a breather Tuesday, with the Dow, S&P, Nasdaq, and Russell 2000 all finishing lower after notching record closes on Monday. Rhys Williams, Chief Strategist at Spouting Rock Asset Management, joins Cheddar News' Closing Bell, where he provides his biggest takeaways from the day's activity.
The U.S. economy added 531,000 jobs in the month of October, painting a better picture of the economy that analysts had expected. Jared Bernstein, Council of Economic Advisers Member for President Biden joined Cheddar's Opening Bell to discuss.
Election Day 2021 is in the books, and it wasn't a pretty picture for Democrats. Governor Phil Murphy narrowly won re-election in New Jersey and Republican Glenn Youngkin upset Democrat Terry McAuliffe in Virginia, with many other disappointing losses for the left. Meridith McGraw, national correspondent for Politico, breaks down the key takeaways from this year as the nation looks ahead to the 2022 midterms.
Markets opened higher to kick off the week as investors continue to digest the better-than-expected jobs report, which showed 531,000 new jobs created in October. Ken Johnson, CFA, Investment Strategy Analyst joined Cheddar's Opening Bell to break down his early market insights.
Almost 2 years into the pandemic, supply chain woes continue to wreak havoc on our everyday lives.
From groceries to chip shortages, both consumers and retailers are feeling the strain with prices only climbing as a result. Data intelligence company Morning Consult is out with its U.S. Economic Outlook for November revealing just how much of a threat these hold-ups could pose to the greater economic recovery. John Leer, Chief Economist at Morning Consult joined Cheddar's Opening Bell.
After many years and at least two presidents hoping to overhaul America's infrastructure, congress finally came to an agreement. The House passed the bipartisan infrastructure bill late Friday, receiving thirteen republican votes but failing to earn votes from the six progressive squad members. Joseph Zeballos-Roig, Economics Reporter at Insider joined Cheddar's Opening Bell to discuss the economic impact of the bill.
