The article describes the politico-military situation in the Arctic, including the development of military capabilities of states in the region, the coastal infrastructure, the scales and the manner of military exercises, as well as the dynamics of the military landscape in the Arctic. The authors argue that the military capabilities in most parts of the Arctic remain moderate, primarily due to harsh climate restraints. However, military activity both of NATO member-states and Russia has increased considerably recently in the Euro-Arctic area adjacent to the North Atlantic, in particular in the waters of the Barents and the Norwegian seas. Mutual military deterrence in this area represents a "new old" normal that will shape the security situation in the Arctic in the long term. The article concludes by considering possible options for preventing escalation and minimizing the concerns of the sides by restoring a full, regular and institutionalized military dialogue between Russia and the rest of the Arctic states.