Return of a bygone era !

Russian president Putkin went to a great amount of trouble to have his navy plant a symbolic " flag " on the sea floor under the north pole.
This seems to be a return to an era many centuries ago when the world was unexplored and the countries of Europe sent their seafarers forth to plant a flag on the beach of any newly discovered land and claim it in the name of their sovereign.
It was a custom that had dubious recognition as an article of law and there is little doubt that the latest Russian " flag planting " will not be recognised by most of the world's countries.
What is troubling is that it introduces a new dimension of conflict. Russia will maintain that planting it's flag confers sovereignty - and with that the right to drill for oil and minerals - and should these be found - retain the profits from their sale.
Which raises the matter of that other pole - in Antarctica !
The present situation is that several countries - including Australia - lay claim to the frozen continent, although these territorial claims are in limbo amid a defacto understanding that there will be no drilling for oil or prospecting for minerals. The understanding is that Antarctica is off limits to everything except research and to that end several countries maintain research stations on the ice.
The Russian claim to the sea floor under the North Pole could well spark a rush of similar claims in the southern hemisphere. Given the looming world oil shortage and the demand for various minerals by the expanding giants of China and India the Antarctic could become the last frontier.
The present harmony and spirit of cooperation could go out the window if the Russian move creates a commodities panic and the world rushes to stake claims to a rapidly melting ice continent.
Surely this is a matter where the United Nations should step in and declare as law the neutrality of the sea floor under both the north and south pole !