This question has become much more relevant since ice has started melting in the Northwest Passage long enough to open a potential global shipping route that could re-route oil tankers and other world cargo ships.
The answer depends on who you ask. A Canadian company wants to claim historical rights via a sunken ship the Erebus.
How a 19th century shipwreck could give Canada control of the Arctic
http://www.bloomberg.com/news/features/2015-05-20/how-the-hms-erebus-shipwreck-could-secure-canada-s-arctic-control
"In 2013 the MS Nordic Orion, a Norwegian freighter, made the first cargo transit of the Northwest Passage. That trip, which carried coal from Vancouver to Norway, hasn’t been repeated. But it raised an unanswered question in maritime law: Who really controls the waters of the route and the rest of Canada’s Arctic archipelago, which consists of more than 30,000 islands?"
The Northwest Passage
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