The Arctic occupies a central place in Vladimir Putin’s strategic thinking, combining vast natural resources with critical military importance. Russia controls more than half of the Arctic coastline and sees the Northern Sea route as a future rival to the Suez Canal, especially as melting ice opens new shipping lanes. Western sanctions since the invasion of Ukraine have increased Moscow’s reliance on Arctic energy exports and on China as an investor and customer. At the same time, climate change threatens Arctic infrastructure built on thawing permafrost, raising risks of environmental disasters and disease. Militarily, the region underpins Russia’s nuclear deterrent, with key submarine bases on the Kola Peninsula protected by layered defences. Yet NATO’s growing presence and China’s expanding role complicate Putin’s ambitions. The Arctic promises power and prestige, but it is also increasingly unstable and contested.