Russian President Vladimir Putin entered the debate over Greenland on Wednesday, suggesting a potential US purchase could cost up to $1 billion. Speaking at a Russian Security Council meeting, he framed the estimate in terms of historical precedent. He also criticised Denmark’s record in Greenland, accusing Copenhagen of treating the island like a colony.
Historic deals shape Putin’s estimate
Putin pointed to the 1867 US purchase of Alaska from Russia for $7.2 million, a transaction once mocked as “Seward’s Folly.” He noted that the deal later proved strategically and economically valuable for Washington. By comparing Alaska’s size with Greenland and adjusting for historical prices, he argued a similar transaction would have valued Greenland at $200 million to $250 million. When accounting for gold prices over time, he said, that figure could rise to about $1 billion.
Geopolitics drives competing claims
Despite the comments, Putin stressed Russia had no stake in the issue and viewed it as a matter for Washington and Copenhagen to resolve. “It definitely doesn’t concern us,” he said, predicting the sides would settle it themselves.
US President Donald Trump has repeatedly described acquiring Greenland as a national security priority, arguing Washington must control the island to block Russian or Chinese influence. Greenland occupies a strategic Arctic crossroads along the shortest route between Europe and North America, supporting US early-warning missile systems. As NATO, Russia, and China increase Arctic activity, the United States seeks to expand its military footprint with additional radars monitoring key waters.
Russia rejects claims that Moscow or Beijing threatens Greenland, calling them exaggerated. The resource-rich island holds mineral, oil and gas reserves, but development remains slow and investment lags.
Putin cites Alaska precedent as Greenland debate intensifies, highlighting Arctic security stakes, US ambitions, and Russia’s stated neutrality.
