Greenland has announced a ban on oil production in its vast area in the Arctic.
The regional government in the Danish self-governing area "has decided to suspend the current oil strategy and stop future oil production in Greenland," said a statement published in Nuuk on Thursday evening.
This decision was made in the interests of nature, fishing and climate protection on the island.
While major oil projects are underway or being developed in other parts of the Arctic, oil production in Greenland has already stalled in recent years.
The decision of the autonomy administration is therefore largely symbolic.
According to the regional government in Nuuk, an economic analysis shows poor profitability in oil production.
The returns are "actually only half as high as expected by oil companies".
In line with its election promise, the new regional government is currently also discussing a bill to ban uranium extraction and mining on the island.
Although the island has a strong fishing industry, the Arctic territory is largely dependent on Danish subsidies.