This chapter investigates the difference between the Arctic narratives presented by the Russian government to the domestic and foreign audiences. It applies narrative policy analysis to demonstrate how the Russian government offers two separate, intersecting policy stories. The chapter highlights the socio-economic significance of natural (hydrocarbon) resources to the development of the Arctic region and Russia as a whole, and demonstrates persistence in turning the Arctic into the primary resource base 'against all odds' (such as the Western economic sanctions and low price of oil). It presents the narrative of the Arctic as a territory of peace and stability, emphasising adherence to the norms and principles of the international law. Russia has a long history of economic (including maritime, fisheries, and extractive industries) and scientific activity in the region located above the Arctic Circle and usually referred to as 'Far North' (Krayniy Sever) in Russian.