Political risks of hydrocarbon deposit development in the Arctic seas of the Russian Federation

Nowadays the process of Arctic development has a long-term international cooperation character. Economic and geopolitical interests of both arctic and non-arctic countries meet in the region. Apart from resource development issues, there are problems concerning security, sustainable development and some others issues conditioned by climate and geographical characteristics of the region. Strategic analysis of political risks for the Russian Federation is carried out. The analysis reveals that political risks of hydrocarbon deposits development in the RF arctic seas appear as lack of coordination with arctic countries in solving key regional problems, failure to follow international agreements. Such inconsistency may lead to political risks, which results in strained situation in the region