Arctic Region, North Pole, Arctic

No country owns the geographic North Pole or the region of the Arctic Ocean surrounding it. The surrounding Arctic states that border the Arctic Ocean — Russia, Norway, the United States, Canada and Denmark (via Greenland)—are limited to a 370 kilometre (200 nautical mile) economic zone around their coasts.
Upon ratification of the United Nations Convention on the Law of the Sea, a country has ten years to make claims to extend its 200 mile zone. Due to this, Norway (which ratified the convention in 1996), Russia (ratified in 1997), Canada (ratified in 2003) and Denmark (ratified in 2004) launched projects to establish claims that certain Arctic sectors should belong to their territories.
On August 2, 2007, two Russian bathyscaphes, MIR-1 and MIR-2, for the first time in history descended to the Arctic seabed beneath the North Pole and placed there a Russian flag made of rust-proof titanium alloy. The mission was a scientific expedition, but the flag-placing raised concerns of a race for control of the Arctic's vast petroleum resources. (See 2007 Russian North Pole expedition.)