The Norten industrial complex after sanctions

Challenges and priorities of the industrial policy of resource-based companies of the North zone of the Russian Federation are examined. It is shown that development of mineral resources, being one of the most important competitive advantages of the country, should be combined with innovation development within the state industrial policy. An analysis of resource-based corporations of the Arctic zone of the Russian Federation was carried out and showed that reducing increased production costs is one of the main tasks of the regional policy. The authors believe that the industrial and investment policy of Arctic resource-based companies should be based on stable corporate and regional long-term partnership, and implementation of projects could be the «locomotive» for development of the machine-building and related sectors and industries.

Keywords: Industrial policy, the corporation, the North, raw material resources, sanctions, innovative development