Written by a group of leading experts on Artic affairs, this book offers a historically informed and comprehensive study of the geopolitics and security challenges of the Arctic. The key aim of the work is to identify the conditions for cooperation, stability and peace in the Arctic and to reach beyond simple description and expectation in order to explore in depth some of the main factors that will determine the future of international relations in the region. Furthermore, it addresses key topics such as the geopolitical significance of the Arctic and the importance of oil and gas resources in the Arctic. The book also investigates what the main characteristics of governance in the Arctic are, and how institutions and regimes can promote stability and security in the region. The volume maintains two layers of focus. The first relates to the dynamics within the Arctic and the second to developments outside the region, highlighting that we cannot understand the Arctic in isolation from global developments such as energy markets, security conflicts and NATO-Russian antagonism. This book will be of much interest to students of Arctic politics, security studies, geopolitics, Russian and Scandinavian politics, and international relations in general.