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Over the past three decades, the Arctic has shown an unprecedented pace of international cooperation. Work in this direction takes place within the framework of the Arctic Council, the Barents Euro-Arctic Region Council (BEAC), the Northern Forum, the International Arctic Science Committee, the International Conference “Arctic Frontiers”, the Conference of Parliamentarians of the Arctic Countries, the University of the Arctic, etc. Cooperation and integration of the Arctic regions are of great importance for the social and economic development of this macro-region. United, the Arctic countries will preserve and develop territories on the principles of sustainable development. While studying the topic of the article, the author realized that the existing initiatives are not enough to meet the growing needs of the region. Today, the circumpolar region faces geopolitical, socio- economic, and environmental challenges. Changes in economic development and global warming are a serious threat to the population of the Arctic. Governmental and non-governmental organizations associated with activities in the Arctic, as well as its direct residents, are interested in international cooperation in various areas that are related to the problems of the region. The participation of countries and organizations is needed for an immediate response to changes, as well as to solve emerging problems, to pursue common interests, and to find effective mechanisms for managing emerging changes. In the article, the author also offers practical recommendations for the proper use of the potential of the Russian Arctic.

Conflicts and problems in relations between the indigenous peoples of Russia’s Arctic and resource companies are solved by different methods. Business provides material support for social and economic development of the indigenous peoples, and helps to improve the state of their education, health and to preserve their traditional ways of life and cultures. Despite this, a number of issues remain unresolved. The evolving network of the UN Global Compact in Russia helps businesses and indigenous peoples to improve their partnership practices, to implement new ideas and mechanisms of interaction, and to search for social consensus in the process of developing the Russian Arctic. Overall, the level of resource and industrial companies’ interaction with indigenous communities is critical for sustainable development of the Russian Arctic.

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