Abstract. The Article scrutinizes exaggerated expectations of a mounting conflict in the marine Arctic. Based on a comprehensive analysis, it concludes that there are no serious reasons for the emergence of inter-states conflicts in the region. Practically all maritime boundaries here have been delineated. Oil and gas resources on the Arctic shelf are concentrated within the exclusive economic zones of the coastal states. The relevant sovereign rights of the latter are not contested by any one. By establishing the outer limits of their continental shelf, all coastal states adhere to the criteria established by the UN Convention on the Law of the Sea, which minimizes any eventual conflict among them.