FAIRBANKS, Alaska, May 11. /TASS/. There is no potential in the Arctic region for whatever conflict, Russian Foreign Minister Sergey Lavrov said on Thursday at a ministerial conference of the Arctic Council.

"Russia is doing much and will continue doing much to help develop the Arctic as a territory of peace, stability and cooperation," he said. "There's no potential for whatever conflict there."

"International law makes it possible to provide reliable safeguards for the interests of all the Arctic littoral countries that shoulder responsibility for long-term development of the Far North," Lavrov said.

"As the largest Arctic power we continue assisting an increase of regional immunity to global challenges and the implementation of the 2030 Agenda endorsed by the UN General Assembly," he said.

The ministerial conference of the Arctic Council has brought together the foreign ministers of Canada, Denmark, Finland, Iceland, Norway, Russia, Sweden , and the US, as well as delegates of the indigenous ethnic groups of the Far North.

The Arctic Council was set up in 1996 to coordinate actions of the regional countries in the sphere of sustainable development in the Arctic region. It does not supervise military or regional security issues.

The Arctic Council is a high-level intergovernmental forum that assists collaboration in the vast area, especially in the spheres related to environment.