Putin's three allies divvy up Russia’s Arctic riches - Ukraine's intelligence
Sergey Kiriyenko, CEO of Rosatom (Photo: Getty Images)
Russian reserves of rare earth elements, oil, and gas in the Arctic are effectively controlled by three individuals close to the Kremlin, according to the Foreign Intelligence Service of Ukraine.
According to Ukraine’s Foreign Intelligence Service, Russia’s key Arctic resources are under the control of Sergey Kiriyenko, First Deputy Head of the Russian Presidential Administration; Igor Sechin, head of Rosneft; and Kirill Dmitriev, CEO of the Russian Direct Investment Fund.
The intelligence service notes that Nikolai Patrushev, previously considered one of the main overseers of the Arctic direction, has lost his status as a key player. Along with him, his son Andrey Patrushev - who had previously been responsible for gas production on the Arctic shelf - has also exited the Arctic circle.
Instead, the “Arctic pie” has been redistributed among new Kremlin favorites.
In particular, Sergey Kiriyenko, through the non-sanctioned Rosatom under his control, effectively oversees the entire ecosystem of the Northern Sea Route - from key ports to navigation and hydrographic support for shipping.
In addition, rare earth element deposits in the Arctic-adjacent zone are also within his sphere of influence.
According to the Foreign Intelligence Service, the second most influential figure is Igor Sechin.
His company, Rosneft, controls the Zvezda shipbuilding complex, which is effectively a monopolist in icebreaker production, and also holds its own rare earth deposits, including the Tomtor deposit.
The third participant in the Arctic pool is Kirill Dmitriev, who is seeking to take control of promising deposits by promoting projects such as the Arctic Investment Fund. According to intelligence assessments, his goal is to sell the Arctic to foreign investors at the highest possible price.
Moscow’s Arctic gamble
As noted by the Foreign Intelligence Service of Ukraine, Moscow is currently trying to play two strategic assets - the Arctic-adjacent reserves of rare earth elements and the Northern Sea Route - which are closely interconnected. The largest deposits are located precisely along this route, in the Murmansk region and Yakutia.
At the same time, Russia lacks sufficient financial resources and modern technologies for the full-scale extraction and export of rare earths, making it critically dependent on foreign investment.
On the tactical level, the Kremlin seeks to legally and de facto entrench control over the Northern Sea Route, in particular by restricting freedom of navigation for foreign vessels. This includes introducing mandatory approval for the passage of both civilian and military ships through Arctic waters.
During talks with the US, Russia actively promoted several economic initiatives to the administration of Donald Trump, including a project to develop large natural gas fields in the Arctic seas.
We also reported that in October, the US imposed sanctions on two of Russia’s key oil giants - Rosneft and Lukoil. The restrictions were introduced to increase pressure on the Kremlin and force Putin to enter negotiations with Ukraine.
Following the introduction of these measures, the Russian dictator began considering an unpopular step, raising taxes, indicating serious economic problems in the Russian Federation.
We also wrote that the Hungarian company MOL had shown interest in the possible acquisition of overseas assets of Russia’s sanctioned Lukoil.
