U.S. and Canada to Discuss Claims Over Oil-Rich Arctic Seabed

The United States and Canada are expected to announce they have agreed to begin negotiations over overlapping territorial claims in the Arctic, an area that has drawn increased interest from China and Russia, Bloomberg reported on Tuesday, citing an anonymous source with knowledge of the matter. The United States and Canada are disputing the Arctic seabed in parts of the Beaufort Sea which is believed to hold huge oil reserves. The two neighbors and allies have overlapping claims over the seabed north of Alaska, Yukon, and Northwest Territories.…