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.
Maine Sen. Susan Collins says she'll vote to confirm Judge Ketanji Brown Jackson, giving Democrats at least one Republican vote and all but assuring Jackson will become the first Black woman on the Supreme Court.
A NASA astronaut is back on Earth after a yearlong, record-setting spaceflight. He caught a Russian ride from the International Space Station on Wednesday with two cosmonauts.
Florida Governor Ron DeSantis has signed the controversial so-called ‘Don’t Say Gay' bill into law, banning classroom instruction on gender identity and sexual orientation in kindergarten through third grade. Gary Fineout, reporter at Politico, joins Cheddar News to discuss.
U.S. stocks closed Tuesday's session near session highs. The Dow Jones Industrial Average rose 350 points, after rising more than 400 points at its session high. Shares were also impacted positively by optimism around peace talks in Ukraine. Nancy Prial, Co-Chief Executive Officer & Senior Portfolio Manager of Essex Investment Management, joins Cheddar News' Closing Bell to discuss.
Sylvia Jablonski, CIO at Defiance ETFs, breaks down the factors leading to the market's strong start to the week and discusses what investors should be focusing on when it comes to the Russian invasion of Ukraine and inflation.
Bitcoin surged to its highest level on Monday since January 2nd. The gains also come after a late Sunday rally for the cryptocurrency, when it surpassed the key price of $45,000, and also turned positive for 2022. Matt Hougan, CIO of Bitwise Asset Fund, joins Cheddar News' Closing Bell to discuss what is behind the recent rallies for Bitcoin and other cryptocurrencies.
Cross-border payments are big business, and crypto companies want in on the action, which means challenging established remittance services such as Western Union and MoneyGram.
Sanctioned Russian billionaire Roman Abramovich has been seen on the sidelines of negotiations between Kyiv and Moscow aimed at bringing to an end the war in Ukraine.
Catching you up on what you Need to Know on Mar 29, 2022, with updates on the snow squall in Pennsylvania that caused a pileup killing three, the teacher's strike in Sacramento heading into week two, Walmart no longer selling tobacco products in select stores, and what meme stocks are up to this week.