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Strategically, the Arctic enjoys the unique - and also somewhat precarious - position as a 'buffer zone' between the two superpowers; the USA and the USSR. On the out skirts of the Arctic region, the Barents Sea has become, in military-political terms, one of the most important sea areas in the world. A factor of prime significance in this connection has been the growing Soviet emphasis on a forward naval strategy linked with the massive build-up of the Northern Fleet and the Kola base. Against this back drop, the author analyses the strategic importance of the Polar region, and the changes brought about by the discovery of oil, natural gas and minerals in Northern Siberia, Canada and Alaska as well as on the continental shelf in the Arctic Ocean. Although the development and transit of these new resources could become a stabilizing factor in the area, there are still unresolved problems as regards division of rights and boundaries. The main strategic importance of the Polar region will still be derived from its location between the two superpowers. The author finds that the situation as it now develops in the Polar region could be exploited to achieve two important aims of Norwegian foreign policy: to strengthen Norway's ties with its Atlantic partners, and to increase the assurance of the Soviet Union. In order to achieve these aims, a common policy should be worked out in cooperation with other NATO members who have interests in the Polar region, i.e. Denmark, Iceland, Canada and the United States.