The changes to the global economy and geopolitics brought about by the first year of the pandemic have had significant implications for development in the Far East and Arctic region, as well as global economic integration with the region most importantly is the sharp increase in constraints on globalization. International cooperation, trade and investment are now being conducted under different political and economic conditions from when Russia began its turn towards Asia. These changes have had both positive and negative impacts in terms of implementing Russias stated policy goals for the region. The scale of continental trade and integration with Eurasia is increasing and digitalization is experiencing a real boom, while on the other hand new non-tariff barriers are being introduced and international mobility has decreased by an order of magnitude. A serious discussion about the practical issues affecting the regions development is clearly impossible without taking global and regional factors into account. The key advantages of the Far East and Arctic at present are the high levels of integration into established global transport and logistics systems, an openness to the development of new green technologies and the unique investment climate fostered by the Russian government in recent years. The Far East and Arctic are open to prospective partners, and these regions are far from areas of international instability. The aim of the session is to identify the most important new external factors that need to be considered during the current stage of development of the Far East and Arctic region.