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The sustainable development of the Russian Arctic zone is characterized by unique hydrocarbon and mineral resource potential and the key spheres of regional development are negatively affected by various risks. The present article addresses the issue concerning a long-term development strategy for the Arctic region growth, which is beyond the existing traditional approach. It examines a complex range of environmental, social, political, and industrial problems caused by the increasing industrial activities. The negative impact of the revealed risks has been specified. The model of the Russian Arctic zone sustainable development has been proposed.