Conflicts and problems in relations between the indigenous peoples of Russia’s Arctic and resource companies are solved by different methods. Business provides material support for social and economic development of the indigenous peoples, and helps to improve the state of their education, health and to preserve their traditional ways of life and cultures. Despite this, a number of issues remain unresolved. The evolving network of the UN Global Compact in Russia helps businesses and indigenous peoples to improve their partnership practices, to implement new ideas and mechanisms of interaction, and to search for social consensus in the process of developing the Russian Arctic. Overall, the level of resource and industrial companies’ interaction with indigenous communities is critical for sustainable development of the Russian Arctic.