Who does the North Pole belong to ?

This summer, North Pole is the conflict center between bordering Artic ocean countries.

On August 2nd, "Russian explorers have planted their country's flag on the seabed 4,200m (14,000ft) below the North Pole to further Moscow's claims to the Arctic."
"The rust-proof titanium metal flag was brought by explorers travelling in two mini-submarines, in what is believed to be the first expedition of its kind."
"Canada, which also claims territory in the Arctic, has criticised the mission. "This isn't the 15th Century," Canadian Foreign Minister Peter MacKay told the CTV channel. "You can't go around the world and just plant flags and say 'We're claiming this territory', he said."

But according to Sergei Balyasnikov, from the Russian Arctic and Antarctic Institute , "It's a very important move for Russia to demonstrate its potential in the Arctic... It's like putting a flag on the Moon".

But why is it so important ?

"Russia's claim to a vast swathe of territory in the Arctic, thought to contain oil, gas and mineral reserves. Several countries with territories bordering the Arctic - including Russia, the US, Canada and Denmark - have launched competing claims to the region. The competition has intensified as melting polar ice caps have opened up the possibility of new shipping routes in the region (the famous North West Passage)."

According to US Geological Survey, 25% of world oil reserves are settled to the North of the Arctic Circle.

What about the international law ?

"The North Pole is not currently regarded as part of any single country's territory and is therefore administered by the International Seabed Authority."

"Current laws grant countries an economic zone of 200 nautical miles beyond their land borders.
This zone can be extended where a country can prove that the structure of the continental shelf is similar to the geological structure within its territory."

That's why it's so important to the Russians to argue with scientific proof ! But others countries are now in the running : Danes expedition is on the way.

Further informations

I found the main informations in this article :

BBC News

Do you know North Pole Conquest History ?

North Pole Wikipedia article

Do you know the IPY ?

The International Polar Year is a large scientific programme focused on the Arctic and the Antarctic from March 2007 to March 2009.