Current stage of international cooperation in the Arctic: search for answers to the challenges of economic development

The transformations in the natural and socio-economic environment occurring in the Far North and the Arctic put forward the problem of regional sustainable development. This makes it necessary to address the task of finding strategic approaches to the management of the nonstandard Arctic region, considering the national interests of many states, including the Russian Federation, which dominates territorially in this region. Taking into account the size of the Arctic space and the extreme conditions of economic management, it seems relevant to comprehend the experience of international cooperation in the Arctic and analyze its use for socio-economic development in the entire Arctic region. The aim of the article is to analyze the current stage of international cooperation so as to find answers to the challenges of socio-economic development of the Arctic region. To achieve the goal, we have analyzed the state policy features of the Arctic states based on strategic planning, thus the northern states are able to adapt to the changing natural, socio-economic and geopolitical conditions. We considered approaches in the implementation of projects to develop mineral deposits on the continental shelf of the Arctic Ocean. With the support of international cooperation we give examples of nature management aimed at harmonization of economic interests of business entities and the need to preserve the environment quality in the Arctic. The scientific novelty consists in the critical analysis of the international cooperation features in the Arctic and its readiness to participate in overcoming the new challenges of the Arctic development. The practical relevance of the study lies in the fact that its findings can be used in the educational process in universities, as well as at the state level by executive and legislative authorities in the development and implementation of state policy in the Arctic zone of the Russian Federation, considering the features of international cooperation.