The relevance of the Blue Economy concept for the Arctic water spaces, the use of the Arctic aquatic potential for the sustainable development of the Russian Arctic are considered, in the context of the implementation of large projects for goods transportation along the Northern Sea Route. Factors are identified, which the development of year-round shipping in the waters of the northern seas and the beds of large Siberian rivers flowing into the Arctic Ocean may depend on, as well as the causes which may prevent this. The main factors and tasks of creating transport and port infrastructure, building a modern fleet, environmentally sound organization of fisheries and tourism are revealed.