This article examines the scope, mechanisms, and limitations of Sino–Russian political and economic cooperation in the Arctic from 2014 to 2025, with a particular emphasis on the period following Russia’s full-scale invasion of Ukraine in February 2022. The study focuses on the Northern Sea Road / Polar Silk Road (NSR / PSR) as a tool for repositioning Russia vis-à-vis the West and for the evolution of Eurasian supply chains. The theoretical framework is a neoclassical realism complemented by a geoeconomic perspective. Empirically, a multi-level case study, analysis of strategic documents, and process tracing of key events and “critical tests” are employed. The research objective is to examine the engagement of China and its multinational corporations in the Arctic in light of the domestic policies of the Russian Federation that shape this engagement. The study analyses the asymmetry of influence in the region in the context of Russia’s strengthening nationalisation of the route. By analysing and differentiating aspects such as nationalisation / internationalisation of access rules to the region, dependence / interdependence of partners, technological, operational and financial constraints, it will be possible to take a position on the dilemma of transforming the NSR / PSR into a stable corridor for global trade.
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