| Summary: | The Arctic is one of the few areas of our planet that has not been fully explored. There is a rich biodiversity in this area, but there are also natural resources that have not yet been explored. This is of interest to states and large corporations, which are trying to increase their presence and influence in the area. One could compare the situation in the Arctic to the disputes and conquest of America in the 17th century by different nations. On the one hand, there are the natural resources, on the other hand, there is the environment and the impact that extracting the resources could have. In addition, there are other interests, such as trade routes or military interests. This issue is little known but at the same time very important. In this dissertation, the legal aspects of resource extraction will be discussed. It will explain what resources exist, which stakeholders are involved and why. It will also explain how oil and gas extraction works, the legal aspects taking into account international conventions and treaties, national laws, environmental impact. Existing disputes will be described, and possible solutions will be offered in the conclusion.
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