Russia- Arctic issues

Russia has interest in the Arctic and petitioned the United Nation for the large peace of Arctic territory. Russia could demand 460,000 square mile area and almost five billion tons of oil and gas.
This region is believed to have more than a fifth of the world's undescovered hydrocarbon resourses. Russia, Canada, the US, Norway and  Denmark - all of these countries have been trying to assert jurisdiction over parts of the Arctic. 
According to the theguardian news:" Russia was the first to submit a claim in 2002, but the UN sent it back for lack of evidence.

The ministry said the resubmitted bid contains new arguments. “Ample scientific data collected in years of Arctic research are used to back the Russian claim,” it said.

In 2007 Russia plant the flag on the botton of the Arctic sea and claimed that from now- this territory is our.  The Conadian foreign minister made a speach on CTV television "This is not the 15th century. You can not go around the world and just plant flags and say that: "We are claiming this territorry".  I am partly agree, because we are living in a modern world and need to do official things in a proper way.
In the coming years, Russian companies are planning to develop more deposits of the Arctic shelf. The country is bulding military bases, involving some troops, aircrafts, ships and submarines.
Moscow is accomplishing not expensive  Arctic projects, much like USA, Canada and other nation which interested in North Pole.

Writing this article, I come up that Mass media is interpretering  this situation in different ways. According to the Russian news-  if Russia's claim is approved by the United Nations, the country could gain rights over supplies of hydrocarbons (it is almost ten billion tonnes). Also, Russia could claim 460.000 square miles of underwater territory.  So, other words, there is nothing to worry about.
But according to the Mass media of USA or other countries- it is could provide the new reasons of conflicts between the countries and , what is more, Putin just wants to annex more territories. 
Who is more right, I suppose that it is the guestion of time.