Search

Russia is one of the most important players in the Arctic Zone with significant economic, security and political interests on these territories. This is primarily because of significant natural resources, in particular oil and gas, in the Russian Arctic. The objective of this paper is to define the main prospects of strategic development of the Russian Arctic zone, and to offer socioecological approach to its development. Arctic has considerable strategic importance to the Russian economy. Strategic development of the Russian Arctic represents an area of economic, ecological and social concern. The Arctic shelf in the future can become the main source of hydrocarbons for both Russia and the world market in the whole. The paper presents the strategic importance of the Russian Arctic as a wealth of petroleum and mineral resources. We offered socioecological approach to the Arctic's sustainable development and paid special attention to the ecology and environment preservation. We examined legal and regulatory framework of the Russian Arctic development and estimated social and economic potential of oil and gas project's implementation in the Arctic. Special attention is paid to ecological aspect of the Arctic zone's development. [ABSTRACT FROM AUTHOR]