Trump announces large-scale exploration for resources in Greenland

US President Donald Trump announced that "large-scale" exploration for oil, gas and minerals is about to begin in Greenland. He did not specify when the process will begin, which companies will participate and in which areas the exploration will be carried out.

The statement was made in a post by Trump on the social network Truth Social, Reuters reported. The US president wrote that experts say the amount of easily accessible oil reserves in Greenland is “far greater than that of almost any other place in the world“.

“There are experts who say the amount of easily accessible oil reserves is far greater than that of almost any other place in the world“, Trump said.

The statement comes after a security agreement

In September, the US, Denmark and Greenland signed an agreement that was presented as a step towards ending tensions over the status and security of the island. It came after repeated threats by Trump to take control of the strategically located and mineral-rich Greenland.

The document expands the role of the US military in Greenland and paves the way for two new military bases. It also provides for the possibility of the island's participation in the American missile defense system “Golden Dome“.

At the same time, the agreement confirms Danish sovereignty over Greenland and the right of self-determination of the Greenlanders. It does not announce a change in the political status of the island, which is an autonomous territory within the Kingdom of Denmark.

Trump linked resources to defense

In the same publication, the American president also presented Greenland as a key territory for the defense of the United States. According to him, a future attack on the country would have to pass through the island.

“Any future attack on the United States would have to pass through Greenland, where our defense forces will regularly shoot down drones, missiles, or any other form of weaponry not yet invented“, Trump wrote.

So far, no specific parameters of the planned oil, gas, and mineral exploration have been announced. It is also unclear whether they will be part of a separate American initiative or will be linked to the broader agreement on military and strategic cooperation in the Arctic.

Sources: bta.bg, in.marketscreener.com