Russia into Land 'Addition'

Is the Russian Federation out to grab the Arctic landmass?
The Arctic North Pole is not owned by any country.Russians are now laying claim to the Lomonosov ridge whose bed is filled with tons of natural gas and oil.
How is such a claim possible? They are doing so by claiming that the structure of the continental shelf is similar to the geological structure within its territory.

The shelf is 200 meters deep and oil and gas would be easy to extract, especially with ice melting because of global warming.

Russia has the world's largest gas reserves. It is the second largest exporter of oil after Saudi Arabia. The Kremlin is keen to secure Russia's long-term hegemony over global energy markets, and to find new sources of fuel.

Link:The Guardian

This post has been updated. Check this latest article on Russia planting its flag on the polar sea bed.