Troels Lund Poulsen, the Danish defense minister, told the paper Jyllands-Posten Tuesday that the country plans to spend a “double-digit billion amount” in krone — about $1.5 billion — to make sure they have a “stronger presence” in the Arctic.

The big picture: Danish Defense Minister Troels Lund Poulsen told the outlet Jyllands-Posten on Tuesday that Denmark would spend a "double-digit billion amount" in krone equivalent to at least $1.5 billion on the self-ruled territory that's part of its kingdom to ensure a "stronger presence" in the Arctic.