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The European Arctic is commonly thought of as a pristine and homogeneous area. In reality, it is a diverse region experiencing growth relying on natural resource extraction. Despite local communities being primarily affected by industry activities, most socioeconomic impact assessments are conducted at the macro level. This study addresses this gap by examining the impacts of economic activities on local communities. Using secondary data and semi-structured interviews from 15 hubs in five European Arctic countries, the study draws on locally relevant insights. Findings indicate that many activities focus on economic growth, and existing strategies do not adequately address biophysical boundaries. Furthermore, alternative activities need to be developed in a more balanced manner that aligns with the needs of indigenous and local communities. Finally, participation of various actors in future developments is critical to reduce the negative impacts of industry activities. [ABSTRACT FROM AUTHOR]

Russia's full-scale war on Ukraine in early 2022 has brought geopolitics, particularly classical geopolitics, back into the political and economic discussions and decision-making. Discursive, as well as real-world change, has been rapid, as the turn of the 21st century was the time of globalisation and neoliberal ideology – the free movement of people, products, and services. However, in this paper, we argue that classical geopolitics has defined the development of Northern industries even before the war began in 2022. Our interview data (n = 60) collected in the advent of the Russian invasion of Ukraine reveal that the themes of state power; 'hard' security meaning military armament; the economy as a field of national interests; and spill-over effects of geopolitical tensions between superpowers have framed economic fortunes in the European Arctic. It is concluded that the state actors' interests in the European Arctic's physical space and natural assets will be increasingly expanding. [ABSTRACT FROM AUTHOR]