The article explores the development of bilateral relations between the Northern countries and Russia due to the current trend of increasing role of Northern Europe and the Arctic in international relations. The author specifically considers the reasons, motives, objective preconditionsrequired to maintain a minimum level of contactsafter 2014. This set of political and economic factors, a kind of Strategic untouchable reserve, not only prevents the crisis, but also serves as an objective basis for maintaining the certain level of working ties, as well as their improvementin the future. The ruling circles support the policy of sanctions, the course of USA/NATO/EU aimed at strategic deterrence of Russia. However,the countries in the subregion are committed to the preservation of dialogue with Moscow and pragmatic cooperation. This positive attitude of the Nordic Five towards Russia is based on long-term goals: the need to keep and to develop trade and economic exchanges, the necessity to develop further economic cooperation in new and perspective spheres, such as the Far North and the Arctic, development of the Northern Sea Route, sea spaces and the shelf of the Arctic Ocean etc.