This thesis presents an analysis of Russia’s and Finland’s Arctic polities, and what effects their policies have for the future geopolitical situation. The argument of this thesis that the implication of Russia’s and Finland’s policies on the geopolitical situation in the Arctic will likely get increasingly tense in the future. Neoclassical realism was the chosen theoretical framework since the topic is concerned with a combination of domestic and systemic factors. The methodological approach was a comparative case study analyzing Russia and Finland with a most-different system design. This approach made it possible to compare three units that shaped these states Arctic policies. Conclusively, the results find that Russia’s economic decline and perception of the Arctic as an economic opportunity conflict with Finland who are in favor of policies to strengthen the regional organizational framework by broadening Arctic Council’s agenda to have a greater cooperation with Arctic and non-Arctic states on security politics.