The Arctic zone: possibilities and risks of development

Abstract

The authors analyze the Arctic region innovative possibilities from the perspective of political ideology and strategy. The Arctic region with its natural resources and high economic potential attracts many companies and it has become an important area of transnational development. At present, the Arctic region development is of great importance in terms of natural resource management and political system development. However, the most important development issue in the Arctic is a great risk of different countries' competing interests in economic, political, and legal context. These are challenges for international partnership creating in the Arctic zone, Russian future model developing for the Arctic, and recognition of the Arctic as an important resource for the Russians. The Russian economic, military, and political expansion in the Arctic region has the potential to strengthen the national positions. The authors present interesting options for minimizing and eliminating political risks during the Arctic territories development and define an effective future planning model for the Russian Arctic.