The European Union is expected to make a last-minute decision on banning new oil and gas exploration in the Arctic during a weekly meeting of the bloc’s 27 commissioners in October, according to two EU officials who spoke to Euronews on condition of anonymity.
Earlier media reports suggested that the EU is considering dropping its ban on new drilling in the Arctic in its revision of the 2021 Arctic strategy as the bloc is enduring an energy crisis triggered by the closure of the Strait of Hormuz, where 20% of the world’s gas and oil transit.
The Artic has become increasingly contested due to its abundant oil and gas reserves and critical raw…
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