Putin floats $1B price tag for US buying Greenland, accuses Denmark of colonial treatment

In a striking intervention into the growing international debate over Greenland’s future, Russian President Vladimir Putin suggested that if the United States were to buy the Arctic territory from Denmark, the price tag could be “up to $1 billion,” using America’s historic purchase of Alaska and some basic math as a benchmark. 

Putin also sharply criticised Copenhagen’s historical treatment of Greenland, accusing Denmark of behaving “like a colony” towards the island’s people.

Speaking on Wednesday at a meeting of Russia’s Security Council, the Russian leader said Moscow considered the Greenland dispute a matter for Washington and Copenhagen to resolve, adding that Russia had “no stake in it.” 

“It definitely doesn’t concern us. I think they will sort it out among themselves.,” he said.

Trump has repeatedly insisted that acquiring Greenland is a national security priority, and that the US must own the island to prevent Russia or China from taking it. The shortest route from Europe to North America runs via Greenland, making it important for the US ballistic missile early-warning system.

Greenland sits at a geopolitical crossroads amid Arctic militarisation by NATO, Russia and China. The US wants to expand its military footprint, including radars to monitor waters used by Russian vessels and submarines.

Russia says talk of Moscow and Beijing being a threat to Greenland is a myth to whip up hysteria.

The island, whose capital Nuuk is closer to New York than the Danish capital Copenhagen, boasts mineral, oil and natural gas wealth, but development has been slow and mining has seen very limited US investment.

Putin’s pricing and historical analogies

Putin framed his comments around historic US land acquisitions. 

In televised remarks, he noted that the United States purchased Alaska from Russia in 1867 for $7.2 million, a deal that at the time was derided as “Seward’s Folly” in reference to US Secretary of State William Seward’s decision to buy Alaskian territory with many critics arguing it was a terrible decision with no value.

However, the purchase later proved strategically and economically significant for the US.

According to Putin’s remarks, if one compares Greenland with Alaska’s size and past transaction value, a similar deal would have seen Greenland priced at roughly $200 million to $250 million.

Factoring in the relative value of gold at the time, he contended, it could push that valuation “probably about $1 billion.”

“Well, I think the United States can afford such a sum,” he added.

Other territorial precedents

Putin also reminded listeners that the United States once bought land from Denmark itself, the Danish West Indies (now the US Virgin Islands), for $25 million in gold in 1917 during World War I. 

As part of that treaty, Washington declared it would not object to the Danish government extending its "political and economic interests to the whole of Greenland", formally recognising Danish sovereignty.

Beyond economics, Putin’s comments took aim at Denmark’s long stewardship of Greenland. He asserted that Denmark “always treated Greenland like a colony” and did so “quite harshly, if not cruelly,” framing the conversation in terms of historical power imbalances rather than purely geopolitical interests.

Greenland was historically a Danish colony from the 18th century, only gaining extensive home rule in recent decades, and it still depends heavily on Danish subsidies and control over foreign affairs and defence.

How did Denmark get Greenland?

Greenland was inhabited by Inuit peoples from Asia and North America intermittently from around 2,500 BCE. Around 985 CE, Vikings led by Erik the Red settled in southern Greenland, farming and building churches. Around the same time, ancestors of today's Inuit arrived, living as hunters and gatherers. They became the dominant culture, pushing out Viking settlers around 1400.

Denmark colonised Greenland in the 18th century when missionary Hans Egede arrived in 1721, marking the start of the colonial era. A statue of Egede still stands on a hilltop in the capital Nuuk's colonial harbour, seen by many Greenlanders as a symbol of lost Inuit traditions.

Greenland shifted from colony to formal territory in 1953 under Denmark's constitution, though Greenlanders were not consulted. Any sale would require a constitutional amendment. Since 2009, Greenland can declare independence through a self-rule process requiring a referendum and Danish parliamentary approval.

Autonomy is extensive but excludes foreign affairs and defence unless agreed. Greenland has about 57,000 people, limited infrastructure, and no roads between its around 17 towns.

While Denmark vehemently opposes a sale, and Greenlandic leaders insist the island is not for sale, Putin’s sidelining of Russia’s direct stake, combined with his critique of Danish governance, underscores shifting geopolitical narratives around Arctic sovereignty and great-power rivalry.