Norway’s sovereignty over Svalbard is at risk as the government considers a potential sale of a property to foreign buyers. The 1920 treaty grants citizens of signatory powers like Russia and China rights to exploit mineral resources on the Arctic archipelago. However, Norway is cautious about losing control over the territory.
The Norwegian government’s offer of 20 million kroner for the property, owned by a company controlled by a Russian-born Norwegian, was rejected. Chinese interest in the High Arctic and Svalbard’s last private land raises concerns about stability and Norwegian interests in the region.
Critics doubt the feasibility of the sale due to restrictions on construction and transport in protected areas of the archipelago. With China’s growing interest in the Arctic region, the potential sale of the property on Svalbard highlights the complex geopolitical dynamics at play.