Norway Halts Sale of Strategic Arctic Land

Norway has halted the sale of the last privately owned land on the Arctic archipelago of Svalbard to prevent its acquisition by China, citing national security concerns. The property, Sore Fagerfjord, encompassing mountains, plains, and a glacier, was on sale for €300m and attracted interest from Chinese buyers. The unique legal framework governing Svalbard allows foreign entities to exploit mineral resources, raising sovereignty issues for Norway. The government emphasized the need for state approval under national security law for any potential sale to prevent destabilizing the region and safeguard Norwegian interests. This decision underscores the geopolitical tensions in the Arctic region as relations between Russia, the West, and China grow complex amidst melting ice and evolving economic interests.